Antares Vision expands its capabilities through the acquisition of Rfxcel
A leading US-based Software-as-a-Service company
Antares Vision, an Italian leading global provider of intelligent Track & Trace, Inspection and Smart Data Management solutions for the Life Science and Food & Beverage sectors, announced entering into an agreement for the acquisition of rfXcel Corporation, a leading US-based Software-as-a-Service company, for an upfront consideration of $120 million on a debt free and cash free basis.
The acquisition of rfXcel will strengthen further Antares Vision Group’s software capabilities, consolidating its position as one of the global leaders in Track & Trace. The Antares Vision Group will leverage rfXcel capabilities and software suite to help customers accelerating the transition towards digital and sustainable supply chains, enabling full transparency and visibility.
The acquisition will also enable significant opportunities to cross-sell (i) rfXcel solutions across Antares Vision Group’s large and growing installed base of Track & Trace and Inspection solutions and across a broad, blue-chip customer base of over 2,500 clients, as well as (ii) Antares Vision Group’s products to rfXcel’s existing customer base. Together with rfXcel, the Antares Vision Group makes an important headway to provide full stack end-to-end digital solution enabling traceability, serialisation processing, regulatory compliance and gathering and monitoring of real-time data to optimise and streamline customers’ supply chains while providing complete end-to-end visibility: from the product ingredients and raw materials to the end customer experience.
Emidio Zorzella, Chairman and CEO of Antares Vision said: “We are delighted that we have reached agreement to acquire rfXcel. The acquisition has a compelling strategic rationale with strong operational and financial benefits. The combination will strengthen Antares Vision Group's position as one of the global leaders in the Track & Trace segment, accelerating our growth and representing an attractive value creation opportunity for our customers, our shareholder the whole Antares Vision Group. Demand for traceability and serialised products and services has increased significantly over the last few years, and this transaction accelerates our ability to offer best-in-class propositions in all our key reference sectors, Life Science and Food & Beverage. We look forward to welcoming the management and employees of rfXcel to the Antares Vision Group and working together to serve our customers across the world”.
EFA News - European Food Agency