Tyco International has acquired Vue Technology Inc., a Lake Forest, Calif.-based provider of item-level RFID software and infrastructure solutions, for approximately $43 million in cash. Vue Technology had raised around $14 million in VC funding from firms like Canaan Partners, Partech International and Marubeni Corp.
Sensormatic Electronics Corporation, a Tyco International company, announced today the acquisition of Vue Technology, Inc. (Vue), a leading provider of item-level RFID software and infrastructure solutions. The acquisition of Vue builds on Sensormatic’s strategy to offer integrated technology solutions for its retail customers. Vue’s item-level RFID technology includes a full software platform, RFID readpoints and RF networking devices to track inventory on a real-time basis.
Simplifying the inventory process, Vue’s software platform enables efficient and effective inventory cycle counts to ensure accuracy. The integration of Vue’s RFID infrastructure into Sensormatic’s portfolio of loss prevention hardware solutions and other sensor technologies will enable retailers to deploy RFID at the store level to gain better control, security and visibility into their inventories and increase operational efficiencies.
Historically, retailers have experienced challenges with tracking in-store inventories. According to the January 2008 IHL/RIS News Store Systems Study, out-of-stocks alone may contribute up to $93 billion of lost revenue for retailers, higher operational costs, and an erosion of customer service. Vue has significant market traction with leading retailers worldwide, enabling customers to achieve up to 99 percent sales floor inventory availability and an increase in same store sales of up to 25 percent in recent applications.
“The acquisition of Vue Technology builds on Sensormatic’s strategy for providing customer benefits such as greater product availability, accurate replenishments and effective inventory cycle counting at the retail selling floor,” said Scott Clements, Vice President and General Manager, Sensormatic. “Sensormatic is known as a company that helps retailers reduce theft losses. Now we can help retailers address their biggest form of loss — lost sales due to inventory inaccuracies. Sensormatic is focused on lowering the cost and complexity of implementing item-level RFID solutions.”
With Sensormatic’s award winning RFID platforms, Vue’s comprehensive software platform and networking products, ADT’s global sales and service capabilities, and Vue’s network of integration partners, retailers will be able to reap the benefits of increased data integrity at the item level and more accurately track items from the stock room to the sales floor to the point-of-sale using innovative multi-sensor technologies.
“For the past six years, Vue Technology has focused on delivering to retailers the most scalable, reliable and ROI-driven RFID solutions on the market,” said Robert Locke, Chief Executive Officer, Vue Technology. “We believe this acquisition will help to accelerate the adoption of item-level RFID technology to offer retailers greater visibility throughout the retail environment, helping them drive increased profitability and revenues. Vue gains access to Sensormatic’s product development resources and Tyco’s global delivery capabilities. Additionally, Vue will benefit from the growing Sensormatic portfolio of smart sensor technologies.”
Sensormatic, part of Tyco International, is the industry leading provider of vital loss prevention and operational improvement technologies. Backed by more than 1,500 patents for innovative, market-leading technologies, our solutions portfolio is sold through ADT and Tyco partners around the world. From the front of the store through the entire retail supply chain, our products and services help keep losses lower — and profits higher. Today, over 80 percent of world’s top 200 retailers that use EAS rely on Sensormatic solutions including Sensormatic EAS, source tagging and data analytics. Sensormatic is investing in forward-thinking solutions by implementing dual EAS-RFID technology, providing item level security and visibility in an ever changing retail environment. For more information, please visit http://www.sensormatic.com/.
ABOUT VUE TECHNOLOGY
Vue Technology is a leading provider of item-level RFID solutions, offering breakthrough RFID infrastructure components and a powerful software suite that delivers the most scalable, reliable, and ROI-driven RFID solutions on the market. Vue’s TrueVUE™ RFID Platform provides the industry’s only unified RFID infrastructure that allows customers to manage dock doors, portals, mobile devices, smart surfaces and smart shelves to achieve RFID visibility down to the item-level.
With its patented RF Networking devices and UHF enabled VUEPoints™, Vue allows standard readers to network across thousands of antennas, exponentially increasing the number of zones that readers can support and dramatically reducing the cost barriers previously associated with item-level RFID roll-outs. Combined with an integrated software suite for device and network management, EPC commissioning, and RFID workflows, the TrueVUE™ RFID Platform is uniquely able to deliver significant and measurable ROI to its customers. For more information, visit http://www.vuetechnology.com/.
ABOUT TYCO INTERNATIONAL
Tyco International (NYSE: TYC) is a diversified, global company that provides vital products and services to customers in more than 60 countries. Tyco is a leading provider of security products and services, fire protection and detection products and services, valves and controls, and other industrial products. Tyco had 2007 revenue of more than $18 billion and has 110,000 employees worldwide. More information on Tyco can be found at http://www.tyco.com/.