N4 Systems Inc., a Toronto-based company responsible for the safety management software product Field ID, has been acquired by Master Lock Canada Inc., a wholly-owned subsidiary of Master Lock Company LLC. The financial terms of the transaction were not released. Founded in 2006, N4 Systems received equity and debt financing from the Business Development Bank of Canada over 2011 and 2012. The company’s venture capital financing in the latter year was also backed by IntelliVest Angel Group and other investors.
Master Lock Canada, Inc., a wholly-owned subsidiary of Master Lock Company LLC, has completed an agreement to acquire N4 Systems, Inc., the company behind Field ID, a leading provider of safety management software. Field ID will become a new, complementary offering in Master Lock’s Life Safety business.
Field ID’s software-as-a-service product offering gives customers around the world the ability to manage safety more efficiently and effectively with the use of mobile apps and the web. The Field ID solution will complement existing solutions offered by Master Lock’s Life Safety business, such as lockout/tagout locks and accessories for industrial safety.
“Field ID’s comprehensive system for digitizing safety management tasks and information is not only an excellent complement to Master Lock’s current Lock-Out / Tag-Out (LOTO) offering, but also provides an organization broader safety audit and compliance tools,” said Franco Daino, VP/GM, Life Safety at Master Lock Company. “With the acquisition of Field ID, we are well-positioned to execute against our vision of a successful Life Safety program and look forward to offering this solution to institutions and industrial companies around the world.”
Field ID will continue to operate independently from its Toronto headquarters but will leverage Master Lock’s sales and marketing capabilities.
“Modern safety management includes using the latest technology,” said Somen Mondal, Vice President, Sales & Marketing of Field ID. “With the popularity of mobile devices and acceptance of software-as-a-service, we’ve seen tremendous growth here at Field ID. Together with Master Lock, we expect exponential growth in the adoption of Field ID among safety professionals around the world. We are truly looking forward to working with them and providing our customers with an even better experience than they’ve come to know.”
Shaun Ricci, Vice President of Technology and Product, added: “Safety compliance is a very documentation-heavy and challenging process. Completely automating and simplifying safety compliance has always been a very ambitious goal of ours. With Master Lock as a partner, we have truly taken a giant step forward in realizing this goal with many more customers.”
About Field ID
Field ID is a leading provider of safety compliance and inspection management software for the web and mobile devices operating on Google Android, Apple iOS and Windows Mobile. The company’s easy-to-use, cloud-based inspection software has revolutionized the way organizations manage safety compliance and create safer workplaces. Field ID combines web-based and mobile technologies with the power of electronic identification (RFID and barcodes) to improve the efficiency, reliability and reporting of workplace safety management. Manufacturers, distributors, third party inspectors and end users worldwide use Field ID to inspect facilities and equipment, conduct job site audits, manage corrective and preventive actions, improve training/certifications management, and track assets such as cranes, slings and harnesses. For more information, please visit www.fieldid.com.
About Master Lock
Master Lock is the world’s largest manufacturer of padlocks and related security products providing innovative security solutions for home, automotive, campus, power sports, bike and storage security needs for consumers and industry alike. Master Lock Company LLC is an operating unit of Fortune Brands Home & Security, Inc., a leading consumer brands company. Headquartered in Deerfield, Ill., Fortune Brands Home & Security, Inc. (NYSE: FBHS) is included in the S&P MidCap 400 Index. For more information about Master Lock, see www.masterlock.com.
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