Advised on Purchase of CompanyTechnology
Acquired 100% of Business Operations
TagMaster, the leading supplier of advanced RFID, Infomobility and ANPR cameras for vehicle identification within Traffic and Rail solutions, announced the closing of its previously announced acquisition of Magsys.
Magsys was established in 2003 and is the leading added value ITS (intelligent transportation solutions) distributor in France with a strong foothold in vehicle counting, travel time management and on-street parking monitoring. Magsys are selling towards the French road administrations in cities, departments and to highways (toll roads).
Jonas Svensson, CEO, TagMaster said:
"TagMaster is excited about this important step in our growth strategy and we will together with Magsys become a stronger player in the Traffic solutions market in France. Following this acquisition we will continue to establish ourselves as an important player in Smart City solutions. There are clear and immediate synergies between Magsys and CA Traffic and CitySync. With the combined expertise at Magsys and CA Traffic and CitySync we believe we have an excellent opportunity to become one of the main players in the fast-growing French ITS market. We will also take full advantage of CA Traffic's technical expertise in traffic monitoring products and start distributing them through Magsys strong client base in France."
Jean-Marc Coutellier Magsys MD commented
"We are very pleased to be joining the TagMaster group. We recognize and welcome the strength that the union will bring to both brands and the synergies that are immediately apparent with the other TagMaster companies."