HID Global Expands Its RFID Enablement Solutions Portfolio with Acquisition of Invengo Textile Services Business from Invengo Information Technology Co., Ltd
HID now offers complete portfolio for commercial laundry management with radio frequency identification (RFID) tags, readers and cloud-based inventory services.
HID Global has announced it has acquired the Invengo Textile Services Business of Invengo Information Technology Co., Ltd. The acquisition adds radio frequency identification (RFID) tags, readers and cloud-based inventory management services for linen and laundry management to HID Global’s industry-leading RFID portfolio.
According to MarketsandMarkets, the global market for commercial laundry offerings, including tags, readers, software and system integrator services, is expected to grow at a compounded annual rate of 12.9 percent from 2020-2025. This growth is driven by the expanding hospitality market and healthcare facilities requiring management of everything from bedsheets to medical staff uniforms. COVID-19 has also led to a steep rise in the demand for clean and sanitized textiles, driving significant growth in the commercial laundry business worldwide.
“The acquisition of the Invengo Textile Services Business further extends our identification technologies offering to meet the escalating demand for loss prevention capabilities, high-value analytics and real-time inventory visibility that increase efficiency in commercial laundry management,” said Björn Lidefelt, CEO of HID Global. “This addition to the HID family complements our existing business and capabilities in the RFID market, enabling our partner community to create robust solutions for this fast-growing market.”
Beyond healthcare and hospitality sectors, streamlined linen and laundry management is also necessary for staff uniform laundry in industrial settings, such as power and oil plants, transport facilities, and mining, engineering, chemical, construction and utility companies.