202103 Mar
HID Global Expands Its RFID Enablement Solutions Portfolio with Acquisition of Invengo Textile Services Business from Invengo Information Technology Co., Ltd
Type
Acquisitions
Companies
Source
Businesswire
Summary

According to MarketsandMarkets, the global market for commercial laundry offerings, including tags, readers, software and system integrator services, is expected to grow at a compounded annual rate of 12.9 percent from 2020-2025.1 This growth is driven by the expanding hospitality market and health care facilities requiring management of everything from bedsheets to medical staff uniforms. COVID-19 has also led to a steep rise in the demand for clean and sanitized textiles, driving significant growth in the commercial laundry business worldwide.2 “The acquisition of the Invengo Textile Services Business further extends our identification technologies offering to meet the escalating demand for loss prevention capabilities, high-value analytics and real-time inventory visibility that increase efficiency in commercial laundry management,” said Björn Lidefelt, CEO of HID Global. “This addition to the HID family complements our existing business and capabilities in the RFID market, enabling our partner community to create robust solutions for this fast-growing market.” Beyond healthcare and hospitality sectors, streamlined linen and laundry management is also necessary for staff uniform laundry in industrial settings, such as power and oil plants, transport facilities, and mining, engineering, chemical, construction and utility companies. The Invengo Textile Services line extends HID’s RFID and IoT enablement solutions portfolio to address today’s dynamic market requirements. Headquartered in Austin, Texas, HID Global has over 4,000 employees worldwide and operates international offices that support more than 100 countries.

Classifications
  • Security
  • Access Control
  • Sales and Marketing
  • ERP & Process Management
  • Environmental Management