Fluensee, an Englewood, Colo.-based provider of RFID-enabled asset management solutions, has acquired TrenStar Tracking Solutions. No financial terms were disclosed. Fluensee has raised over $5 million in VC funding from firms like DFJ Mercury and Illinois Ventures. Trenstar had raised over $55 million from firms like Carlyle Venture Partners and Technology Investments.
Leading RFID-enabled asset management solution provider Fluensee today announced the acquisition of TrenStar Tracking Solutions and its North American operations, assets, customers and intellectual property.
The combination of Fluensee and TrenStar Tracking Solutions brings together two of the industry's leading RFID-enabled asset tracking solutions. The move extends Fluensee's capabilities in the beverage, brewery and synthetic rubber industries and brings with it the opportunity to immediately provide a feature-rich and highly scalable asset management solution as a Software as a Service (SaaS) offering.
“The acquisition is a sound strategy and a natural fit of two complimentary companies,” said Ed Flaherty, TrenStar chief executive officer. “We're pleased that the TrenStar Tracking Solutions products will be integrated into Fluensee's and that this integration will help Fluensee continue to deliver comprehensive solutions that use RFID to track and manage the physical movement of assets and inventory.”
“This represents a significant step for Fluensee in our strategy to accelerate growth,” said Tim Harvie, president and chief executive officer of Fluensee. “Today, we significantly increased our presence in new verticals, where we see huge opportunities for the adoption of RFID, and strengthened our ability to provide enhanced solutions to our customers in information technology, transportation, logistics, manufacturing, government, oil, gas and mining. We look forward to building value for our shareholders by delivering on the promise of this acquisition.”
Both companies are headquartered in the
Fluensee's RFID-enabled asset tracking and management solutions improve the visibility, accuracy, security and utilization of a company's mobile and fixed assets. Its end-to-end solutions combine highly configurable and patented software and implementation services with hardware from leading RFID, barcode, GPS and sensor technology providers. Fluensee's solutions include its entry-level AssetTrack Express