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Israel’s AeroScout sold for $240m.
Posted By Viva Sarah Press On May 7, 2012 @ 8:34 am In | No Comments
Israel’s AeroScout – a global leader in tracking objects and people through Wi-Fi networks – has reportedly been acquired by an American infrastructure and services company for some $240 million. The Calcalist business daily reported that the buyer will identify itself only after it clears US trade hurdles.
AeroScout was founded by CEO Yuval Bar-Gil in 1999. The Rehovot company invented the first Wi-Fi-based active radio frequency identification (RFID) tag. AeroScout’s solutions are used by top companies and organizations including Boeing, Freescale Semiconductor, Continental Tire and over 500 hospitals worldwide.
AeroScout has also partnered up with the likes of Accenture, Cisco Systems, HP and NEC.
According to reports, the 200-plus strong Israeli company will continue to develop its RFID technology despite the buyout. It is being reported that its R&D headquarters will remain in Israel after the sale.
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