Auckland, NZ. TradeWindow (NZX: TWL), has advised that an agreement to acquire the business and assets of Rfider Limited, an Auckland-based software company, (first announced to the market on 17 May this year), has now gone unconditional.
Rfider has developed a mobile interface that can be rapidly deployed in complex supply chains to capture many points of data. TradeWindow is acquiring the business and assets from Rfider Limited which primarily comprises the Rfider software platform, associated intellectual property and customer relationships. The acquisition will help TradeWindow extend its reach deeper into primary industry supply chains by providing traceability all the way back to the points of cultivation and production.
TradeWindow CEO AJ Smith welcomed John Pennington and his team from Rfider into the fold at TradeWindow.
“We are delighted to go unconditional on the purchase of Rfider and excited by the synergies. Rfider’s functionality significantly enhances our existing provenance solution, with its impressive user experience and broader target market.” Mr Smith says.
“The skilled team, as well as customers from Australasia, Europe, USA and South America which will come across as part of this acquisition, will significantly accelerate TradeWindow’s penetration of the traceability market,” Mr Smith says.
Settlement for the acquisition of Rfider is expected to take place on or around 29 July 2022.
This week TradeWindow completed an oversubscribed $9 million capital raise and opened a share purchase plan for up to an additional $1 million for existing shareholders. The purpose of the raise was to provide TradeWindow with the funding to continue to execute on quality growth opportunities moving forward.