Fedrigoni announces new acquisition
The deal is an equity stake in a connected solutions pioneer, SharpEnd / io.tt
Shining a spotlight on the industry
Friday, 19 Jan 2024 12:29 GMT
SharpEnd was founded in 2015 as the world's first Internet of Things (IoT) agency
Specialist in materials for luxury packaging and creative solutions, Fedrigoni, has given details of its new corporate venture capital program launched to identify start-ups and accelerate their innovations and technologies into the group.
The latest acquisition, done through a capital increase of a minority stake, is in connected solutions and consulting company, SharpEnd / io.tt which is based in the UK and the US.
SharpEnd / io.tt uses technologies such as NFC, QR codes, and augmented reality (AR) to develop connected packaging, product, and retail experiences for brands powered by its SaaS (software as a service) platform called io.tt which is used in over 130 countries.
Marco Nespolo, chief executive officer at the Fedrigoni Group, says: “The world of connected products is increasingly strategic for us, and this deal, strongly synergic with the recent acquisitions of Tageos and the Grenoble R&D Centre, will enhance our solutions portfolio in the world of smart labels and papers”.
Fedrigoni Group chief executive officer, Marco Nespolo
The deal consists of an initial investment with a path to acquire their entire capital in the longer term and is part of a new corporate venture capital programme launched by Fedrigoni to identify innovative start-ups to accelerate innovation and new technologies.
Nespolo adds: “The world of connected products is increasingly strategic for us, and this highly complementary and synergic transaction with the recent bolt-on acquisitions of Tageos, a French company that specialises in the manufacturing of UHF and NFC inlays (acquired in 2022), and the Grenoble Research and Development Centre (which joined the group in 2023), will enhance our solutions portfolio in the world of smart labels and papers.”
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