Under the LoI, Confidex will hold the rights to manufacture the jointly specified RFID tag and TagMaster will hold the rights to market and sell the specified RFID tag within the Railway Transportation Industry market. The two companies will also explore future co-operation opportunities to develop or supply additional RFID tags or related technologies for use in other application areas and markets.
“In signing this Letter of Intent, TagMaster has secured a competent and recognised partner for the supply of heavy-duty ID-Tags within our UHF product strategy,” says Bo Tiderman, CEO at TagMaster AB. “Confidex is a proven market leader in ID-Tag technology and we believe this co-operation will strengthen our position as the leading RFID solution provider within the Transportation sector.”
“Confidex sees the need to collaborate closely with partners who have domain expertise. TagMaster is a recognized leader in the Railway Transportation Industry and we believe that we can jointly add value to that market”, says Timo Lindström, CEO of Confidex Ltd.