TAGSYS Raises $35M to Fuel Growth in Accelerating Item-Level RFID Market

Leader in Item-Level RFID Infrastructure Caps off Last 12 months with Innovation, Major Customer Wins and Move of Global HQ to U.S.

Cambridge, Mass. (PRWEB) May 23, 2006 –- TAGSYS, the global leader in item-level RFID (Radio Frequency Identification) infrastructure, today announced that it has completed a $35M round of financing and relocated its global headquarters to Cambridge, Massachusetts. The round was led by JPMorgan Partners (“JPMP”), and included Cazenove Private Equity, as well as previous investors Elliott Associates, L.P. and its affiliates, and Endeavour. Shahan Soghikian, Partner with JPMP, and Paul Murray, Director with Cazenove, will join the board of directors. The capital will be used to advance the company’s rapid global growth, expand R&D efforts, and accelerate its ability to bring end-to-end item-level RFID infrastructure solutions to markets that are increasingly embracing RFID.

“This financing round marks an important new growth phase for TAGSYS as it solidifies its leadership position in the item-level RFID industry,” said Bernard Vogel, chairman of the board and managing partner of Endeavour. “The capital will allow TAGSYS to capitalize on the strong commercial momentum that the company is experiencing by expanding global production capacity, strengthening development efforts and augmenting its sales and services to meet the increasing demands of its customers.”

“The market is showing very encouraging signs that it is ready and willing to embrace item-level RFID,” said Elie Simon, CEO of TAGSYS. “TAGSYS has pioneered solutions and approaches that produce best of breed product and six-sigma level read rates of 99.9997%. Our technology and solutions are now helping early adopters like the pharmaceutical, luxury and branded goods industries to automate labor-intensive processes, authenticate and safeguard goods and enable real-time inventory. This injection of capital will help vault TAGSYS to new heights in our ability to deliver solutions that advance item-level RFID around the world.”

TAGSYS has developed a leadership position in the pharmaceutical sector by creating solutions which allow its customers to address patient and consumer safety, while combating the growing drug counterfeiting problem. Several of the largest pharmaceutical manufacturers in the world have initiated RFID projects with TAGSYS this year, including Pfizer for its high-profile Viagra RFID initiative. Additionally, TAGSYS pioneered the deployment of RFID in injectable vials through its injectable with West Pharmaceutical Services, in an effort to help medical personnel ensure the authenticity of the drugs that they dispense.

The company also recently announced its latest innovative approach to item-level tagging. The-Package-is-the-Tag™, a UHF Gen II solution, utilizes patented parasitic antenna technology that affords the high degree of flexibility, customization and quality that will make item-level RFID successful.

TAGSYS has successfully achieved a global foothold in key growth sectors including high-end luxury goods, fashion, cash-in-transit, electronic components, libraries, and industrial textile rental, and enjoys a client roster that includes companies like Philips, Rabobank (the largest Dutch network bank), Elis (a European leader in uniform rental and cleaning), and the Seattle Public Library (one of the largest in the world). TAGSYS is also well positioned to deliver deployable solutions through its partnerships with key players in the item-level ecosystem, such as Paxar, Dow Corning, Cap Gemini, and IBM Business Consulting.

“Having evaluated a number of RFID companies over the past couple of years, we were drawn to TAGSYS by the strength of its management team and their relentless focus on driving complete solutions for their customers,” said Shahan Soghikian, Partner with JPMP. “The company has leveraged its expertise in both HF and UHF technologies to create products, services and solutions that produce outstanding performance and value for its customers. We are enthusiastic about the prospects for rapid industry adoption of RFID solutions in key verticals, and believe TAGSYS will continue to provide industry leading solutions through steady innovation and superior customer focus.”

About TAGSYS
TAGSYS is the global leader in item-level RFID infrastructure. TAGSYS RFID provides RFID systems and tags for end-to-end item-level tracking that automates labor-intensive processes, authenticates and safeguards goods, and enables real-time inventory and asset visibility. With a proven track record of delivering Reliable, Accurate and Secure (R.A.S.) RFID systems and tags, TAGSYS has deployed over 60 million tags and 50,000 reader systems to over 500 customers in more than 40 countries. TAGSYS’ RFID solutions are currently being deployed in a range of highly specialized vertical markets that include pharmaceutical, fashion apparel, libraries, and textile rental. The company is headquartered in Cambridge, Massachusetts with offices and R&D Centers in France’s Smart Valley, in Doylestown, Pennsylvania and in Hong Kong. More information on TAGSYS can be found at www.tagsysrfid.com.

About Endeavour
Endeavour is a Geneva-based venture capital firm investing in companies with high potential in the information technology sector. Thanks to a unique combination of renowned entrepreneurs and CEOs, Endeavour provides talented entrepreneurs and operating executives a distinctive expertise and access to a powerful network. Visit www.endeavourlp.com for more information.

About JPMorgan Partners
J.P. Morgan Partners, LLC (JPMP) is a leading private equity firm with approximately $10 billion in capital under management as of March 31, 2006. Since its inception in 1984, JPMP has invested over $15 billion worldwide in consumer, media, energy, industrial, financial services, healthcare, and technology companies.

Selected technology investments include: Portal Player, BelAir Networks, CedarPoint Communications, Vyatta, Aristos Logic, and Valere Power.

As previously announced, the JPMP team will become independent from JPMorgan Chase later in 2006 and will establish two separate, more highly focused platforms. The buyout/growth equity professionals are forming a new firm, CCMP Capital, LLC, which will focus exclusively on lead buyout and growth equity investments primarily in its six targeted industry sectors in the U.S. and Europe. The venture team is forming a new firm, Panorama Capital, LLC, and will continue to focus on leading investments in emerging technology and life sciences companies. JPMP Asia, now known as CCMP Capital Asia, closed a new fund in 2005. It continues to invest in the Asia/Pacific region and will maintain its affiliation with the buyout professionals of CCMP Capital.

JPMP is a private equity division of JPMorgan Chase & Co. (NYSE: JPM), one of the largest financial institutions in the United States, and is a registered investment adviser with the Securities and Exchange Commission

About Cazenove Private Equity
Cazenove Private Equity (CPE) manages the £234m / $410m Cazenove New Access Europe Fund. One of Europe’s leading venture capital firms, CPE invests between $5m and $25m in venture, development and replacement capital in Europe’s brightest technology, telecoms and media prospects, producing superior returns for its investors.

CPE also recently announced its merger with Prelude Ventures, one of the most successful early stage investment firms in the UK. With CPE’s capital, networks and experience, and Prelude’s early stage focus, the combined group has unparalleled expertise to invest in all stages in Europe’s leading technology companies. Successful investments include KVS (sold to Veritas for $225m), Fillfactory (sold to Cypress Semiconductor for $100m) and Alphamosaic, sold to Broadcom for $125m).

About Elliott Associates, L.P.
Elliott Associates, L.P. and its sister fund, Elliott International, L.P. have more than $5.9 billion of capital under management. Founded in 1977, Elliott is one of the oldest funds of its kind under continuous management.

TAGSYS Media Contacts
Global Communications    
Ken Reich
Toll Free: +1 877-550-RFID

Europe
Angeline Fraud
Phone: +33 4 91 27 57 56

Bite Communications for US Media
Kara Della Vecchia
Phone : +1 617-730-4165

BALLOU PR for FrenchVecchia
Sophie Daudignon
Phone: +33 (0) 1 42 22 24 10

###

Post Comment:
Trackback URL: http://www.prweb.com/pingpr.php/U3VtbS1TcXVhLVByb2YtQ3Jhcy1IYWxmLVplcm8=

Trackbacks/Comments Received

Adderall prescription. from Adderall purchase without prescription. on Dec 16, 2008

Long term effects of adderall.

Post Comment:
Trackback URL: http://www.prweb.com/pingpr.php/U3VtbS1TcXVhLVByb2YtQ3Jhcy1IYWxmLVplcm8=

Bookmark -  Del.icio.us | Furl It | Technorati | Ask | MyWeb | Propeller | Live Bookmarks | Newsvine | TailRank | Reddit | Slashdot | Digg | Stumbleupon | Google Bookmarks | Sphere | Blink It | Spurl