NCR Acquires IDVelocity, a Greensboro Firm
Posted April 10, 2006 7:07 a.m. EDT
GREENSBORO, N.C. — Privately held
, which focuses on radio frequency identification (RFID) technology, is being acquired by one of its partners.
NCR Corporation said Monday that it was acquiring the Greensboro-based firm. Terms of the transaction were not disclosed.
Last October, NCR began incorporating IDVelocity software as part of its product line.
IDVelocity has a global customer base, having completed more than 200 implementations.
"The acquisition of IDVelocity represents a significant opportunity to extend NCR's RFID solution portfolio," said NCR Senior Vice President Lee Schram in a statement. "Many believed the price of tags would be the greatest inhibitor to RFID adoption. But, in fact, transforming RFID data to eliminate the need for human intervention has been the true inhibiting factor and the most difficult to overcome. This acquisition, together with other technology from NCR, virtually eliminates that concern for our customers."
Ken Hamlin, an entrepreneur who founded IDVelocity and served as its chief executive officer, will remain with NCR and lead the IDVelocity group, NCR said.
"Across industries, RFID opportunities for business impact have created a large demand for complete RFID solutions," Hamlin said. "NCR is uniquely positioned to globally deliver end-to-end RFID solutions. Becoming part of NCR will give IDVelocity, its partners and customers access to world-class technology and best practices across all major industry verticals, and will enable us to further extend our solutions worldwide."
IDVelocity's lead product software known as ADC, provides an end-to-end solution for clients seeking to deploy both fixed and mobile RFID and other auto-ID systems. ADC was first deployed in 1997.