Radio Frequency Identification Technology for Logistics, Tagging and EPC

Zetes acquires NETWave, invests in Greece

Tuesday, February 9, 2010

Zetes, European provider in automatic identification solutions and services for goods and people announced it is acquiring 51% of the shares in NETWave, a provider of Auto-ID solutions for the supply chain in Greece.

NETWave currently generates a turnover of approximately $4 million. The immediate investment value amounts to approximately $683,000 for 51% shareholding.

Subject to achieving pre-defined performance criteria by 2013, the acquisition of the remaining 49% shareholding of NETWave by Zetes is planned within this three year period.

Now re-branded ZetesNetWave, the acquisition enables Zetes to satisfy the requirement from multinational customers seeking coverage within the local Greek market. [end] 

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