BERKELEY, Calif.--(BUSINESS WIRE)--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.