UPM completes sale of its RFID business
04 April, 2012
category: RFID
UPM’s sale of RFID business to SMARTRAC N.V. was completed on March 31 following clearance by all competent authorities. The RFID business consisting of three companies in Finland, the United States and China, has been transferred to the new owner.
As per the terms of the parties’ agreement, published in December 2011, UPM will become an indirect shareholder of SMARTRAC with a 10.6% economic interest through the company OEP Technologie.
SMARTRAC is a Netherlands-based developer, manufacturer, and supplier of RFID inlays for electronic passports and contactless credit cards as well as for RFID transponders for public transport applications.