Antares Vision acquires rfXcel Corporation in $120 million deal
The acquisition of rfXcel is expected to strengthen Antares Vision Group’s software capabilities, consolidating its position as a leader in Track and Trace
Antares Vision, a provider of intelligent Track & Trace, Inspection and Smart Data Management solutions for the life science and food & beverage sectors, announced entering into an agreement for the acquisition of rfXcel Corporation, a US-based Software-as-a-Service (SaaS) company, serving the life science and food & beverage sectors, for an upfront consideration of $120 million on a debt free and cash free basis.
“The acquisition of rfXcel will strengthen further Antares Vision Group’s software capabilities, consolidating its position as one of the global leaders in Track and Trace. The Antares Vision Group will leverage rfXcel capabilities and software suite to help customers accelerating the transition towards digital and sustainable supply chains, enabling full transparency and visibility,” informed the company through a statement.
Emidio Zorzella, Chairman and CEO of Antares Vision said, “The acquisition of rfXcel will be perfectly in line with our strategic vision and it will accelerate our role in the digitisation of the industrial world. The acquisition will enable the Antares Vision Group to broaden and deepen its relationships with existing and new customers thanks to a more comprehensive and complementary product portfolio to market.”
Glenn Abood, President and Founder of rfXcel said, “The rfXcel management team is delighted to join with Antares Vision to offer customers in the life science, food & beverage and other industries the most complete end-to-end solution for Track & Trace on the market today.”
The acquisition is subject to customary closing conditions, including expiration of the Hart-ScottRodino waiting period in the US and the Russian Antitrust approval by Federal Antimonopoly Service, and is expected to close in March 2021.