Zetes, European provider in automatic identification solutions and services for goods and people announced it is acquiring 51% of the shares in NETWave, a provider of Auto-ID solutions for the supply chain in Greece.
NETWave currently generates a turnover of approximately $4 million. The immediate investment value amounts to approximately $683,000 for 51% shareholding.
Subject to achieving pre-defined performance criteria by 2013, the acquisition of the remaining 49% shareholding of NETWave by Zetes is planned within this three year period.
Now re-branded ZetesNetWave, the acquisition enables Zetes to satisfy the requirement from multinational customers seeking coverage within the local Greek market.