Elecsys Corporation has announced plans to purchase the Swiss firm MBBS SA, a maker of RFID products designed for harsh environments. The deal, which is planned as an all-stock transaction, should be finalized on June 16.
Olathe, Kan.-based Elecsys has two divisions: Electronic Interface Solutions, which designs electronic assemblies including circuit boards, electronic modules, and LCDs; and Remote Monitoring Solutions, which supplies wireless remote monitoring solutions for the gas and oil industries. MBBS’s product line will align with the needs of Remote Monitoring Solutions’ existing customer base, and have the potential to expand its business, according to a statement from Elecsys CEO Karl Gemperli.
The MBBS product line features the company’s patented METALuCID RFID technology, which can read and write electronic data through metals, including non-magnetic steels and other alloys. This enables RFID tags to be hermetically sealed inside objects including surgical instruments, weapons, or other devices. MBBS produces tags, readers and software.
Elecsys will swap 175,000 shares of its stock to BSN Systems Inc., an Irvine, California, investment holding company, in return for all the capital stock of MBBS. At current market values, the deal is worth just under $600,000, although it may include additional payouts based on MBBS’s future performance.