Smartrac

Smartrac N.V. is a listed provider of high-security RFID inlays for contactless credit cards and ePassports and RFID transponders based in Amsterdam. Production takes place in Thailand, Germany, USA, Brazil and Malaysia.

Company History

Creation and expansion

The company was founded in 2000 as Smartrac Technology Ltd.. and since its initial public offering in July 2006 as a stock corporation under Dutch law.

2001 in Thailand the production of inlays was started. 2002, a factory in the district of Bang Pa In was opened in Ayutthaya province. 2003 was followed by a second and 2004 the third factory in Ayutthaya. 2006 opened with Smartrac Technology GmbH an office in Stuttgart. 2007, a fourth factory in Thailand was officially opened. In the same year also the production of RFID components in Brazil was started with its own site and open a site in the USA. In January 2008, an agreement was signed, has taken over Smartrac the Malaysian machinery builder Xytec to 100 percent. In November 2008 Smartrac Sokymat Automotive GmbH took over the seat in Reichshof- Wehnrath at Cologne by the Swatch Group AG. In Ayutthaya in Thailand, the fifth production facility was opened on 24 March 2009.

In March 2010 Smartrac has concluded an agreement with De La Rue Identity Systems for the provision of eCovers, an essential part of biometric passports, for certain ongoing projects.

In February 2011, Smartrac has a 50 percent stake Omnia Technologies, an Indian manufacturer of RFID tags involved.

IPO

Smartrac originally planned an IPO in March 2006., He was delayed due to investigations by the public prosecutor Augsburg because of an alleged violation of a patent right from the insolvent already in July 2002 AmaTech AG from Pfronten. Manfred Rietzler, co-founder of Smartrac was previously employed from 1993 to 2000 at a subsidiary of AmaTech in research, development and production. The investigation was set in June 2006 and the stock was then first listed in the Prime Standard of the Frankfurt Stock Exchange on 20 July 2006. The issue price was 17 euros. With the IPO, the company was able to occupy about 60 million euros.

In March 2007, company founder Richard Bird ( Switzerland ) sold his share of 34.17 percent to institutional investors.

Takeover by OEP

In August 2010, the financial investor One Equity Partners announced a voluntary tender offer for Smartrac; simultaneously draws OEP a capital increase. After completion of the Offer and capital increase OEP held end of November 2010 87.0 % of the capital. Manfred Rietzler still holds 9.6% of the free float amounts to 3.4%.