International. HID Global announced the acquisition of Invengo Information Technology's Invengo Textile Services business unit, adding to its portfolio of RFID solutions: radio frequency identification (RFID) tags, readers and cloud inventory management services for general bedding and laundry management.
According to analyst MarketsandMarkets, the global market for commercial laundry offerings — including labels, readers, software and systems integration services — is expected to grow at a CAGR of 12.9 percent between 2020 and 20251. This growth is driven by the expansion of the hospitality market and healthcare facilities that require the management of all its implements; from the sheets to the uniforms of the medical staff. COVID-19 has also led to a marked increase in demand for clean and disinfected textiles, which has led to significant growth in the commercial laundry business worldwide2.
"The acquisition of Invengo Textile Services further expands our offering of identification technologies to meet the ever-increasing demand for loss prevention, high-value analysis and real-time inventory visualization capabilities, which increase efficiency in commercial laundry management," said Björn Lidefelt, Managing Director of HID Global. "This addition to the HID family complements our business and the capabilities we currently offer in the RFID technology market, enabling our partner community to create robust solutions for a rapidly expanding market."
In addition to the health services and hospitality sectors, optimization of bed linen and laundry management is also necessary in laundry services for staff uniforms in industrial settings, such as power and oil plants, transportation facilities and mining, engineering, chemical companies, of construction and public services.
The Invengo Textile Services line expands the range of solutions for the implementation of hid's Internet of Things and RFID technology. Thus, organizations will be able to respond to the dynamic demands of today's market.
Headquartered in La Ciotat, France, the Invengo Textile Services business unit became part of HID's Identification Technologies, led by Marc Bielmann, who serves as Senior Vice President and Head of this commercial area.
