Sensys Networks, Inc., the world’s leading provider of integrated
wireless traffic data systems for Smart Cities, announces their merger
with TagMaster, a global provider of sensor-based solutions in traffic,
tolling, parking and rail.
TagMaster is an application-driven technology company that designs and
markets advanced sensor-based systems and solutions based on radio and
vision technology (RFID, Radar and ANPR) for demanding environments.
Business areas include Traffic Solutions and Rail Solutions sold under
the brands TagMaster, CitySync, Balogh, CA Traffic, Magsys and Hikob.
The company’s innovative mobility solutions increase efficiency,
security and convenience while decreasing the environmental impact
within Smart Cities. TagMaster exports mainly to Europe, the Middle
East, Asia and North America via a global network of partners and
systems integrators. The company was founded in 1994 and has its
headquarters in Stockholm. TagMaster is a public company and its shares
are traded on First North stock exchange in Stockholm, Sweden.
Sensys Networks offers a comprehensive wireless platform, addressing
today’s most challenging traffic and parking data needs. Their
end-to-end solution, comprised of sensors, edge gateways, and highly
sophisticated data management software, has been deployed in hundreds of
cities globally. Sensys Networks is led by industry veterans who bring
together years of experience in wireless communications, carrier grade
infrastructure, enterprise software and transportation management for
the public sector.
The merged entity will provide greater depth and breadth to leading-edge
data solutions for more customers across the globe. By integrating
Sensys Networks’ wireless platform with TagMaster application solutions
for traffic detection, tolling, parking and rail, the combined company
will provide best-in-class applications across the entire Smart City
solution spectrum.
“The combined company will offer unprecedented applications, services,
solutions and support to both our existing and new customers globally,”
says Amine Haoui, Sensys Networks CEO. “We are very pleased to be
joining the TagMaster group and recognise the synergies that are
immediately apparent with the other TagMaster companies.”
”TagMaster is very excited about this important step in our growth
strategy and we will together with Sensys Networks become a stronger
player in the Intelligent Transportation Systems market and we will
continue to establish ourselves as an important player in Smart City
solutions. With the combined expertise at Sensys Networks and TagMaster
we believe we have an excellent opportunity to become one of the main
players in both the US and European markets,” says Jonas Svensson, CEO,
TagMaster.
The acquisition is conditional upon financing and customary closing
conditions and is expected to close during the second quarter of 2019.
Sensys Networks, Inc. will continue to operate under the same name and
business structure, with no impact to the existing team, customers,
partners or suppliers.
About Sensys Networks
Sensys Networks improves the way people travel through cities. We
deliver accurate and dependable detection data to drive reductions in
urban traffic congestion for partners and public agencies around the
globe. For more information see www.sensysnetworks.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190503005436/en/