HID Global has gained 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.
“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.”
According to Markets and Markets, 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 health care 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.
Beyond healthcare and hospitality sectors, streamlined linen and laundry management are 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.
Based in La Ciotat, France, the Invengo Textile Services Business is now part of HID’s Identification Technologies Business Area led by Marc Bielmann, Senior Vice President and Head of Identification Technologies.