rfxcel Acquires Frequentz Assets
SAN RAMON, Calif., Dec. 5, 2017 /PRNewswire/ -- rfXcel, the world's leader in supply chain track and trace for the Pharmaceutical industry is pleased to announce the acquisition of assets from Frequentz, Inc., a leading player in life science and food traceability. This combination will bring new benefits to prospective and existing customers.
Under this agreement, rfxcel acquires Frequentz technology, patents, contracts and personnel. This acquisition enables rfxcel to retain some of the industry's most talented and knowledgeable personnel in serialization and traceability solutions. rfxcel will assume customer relationships and support for all Frequentz customers in the Pharmaceutical and Food industries.
This combined organization will extend rfxcel's customer list to include some of the largest manufacturers and wholesalers in the world. This positions rfxcel as the largest independent traceability provider for the Life Sciences and Food industries offering full data and system validation.
"We are thrilled to be joining the leader in this space and to bring food traceability to the global market. We have spent many years developing this market and the combined entity will be the best positioned player in this fast growing industry," said Charlie Sweat, founder of Frequentz.
"This acquisition will add to our expanding footprint in the global Life Sciences space and launch us into the Food industry. We are very pleased to now offer the world's most sophisticated product Serialization and Traceability platform to the food industry to ensure consumer safety and enhance supply chain visibility," according to Glenn Abood, CEO of rfxcel.
The acquisition of the Frequentz assets is effective on December 5th, 2017. Key resources from Frequentz will be transitioned to rfxcel as part of this effort to ensure a seamless experience for all customers.
As the pioneer and leader in track and trace solutions for the Life Sciences industry, rfxcel has developed a highly scalable platform for supply chain visibility, anti-counterfeiting and compliance. This acquisition combined with a recent $30M growth capital infusion and important key hires widens the Company's lead as the strongest player in the industry.
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