Tyco acquires Vue Technology for $43M
Tyco International subsidiary Sensormatic Electronics Corporation announced today that it bought Vue Technology, Inc., a developer of RFID software, for $43 million.
Sensormatic is known for technology used to prevent inventory loss and improve supply chain efficiency. The acquisition of Lake Forest, Calif.-based Vue is expected to give Sensormatic’s retail clients even more options when it comes to keeping track of inventory. Its RFID platform lets businesses identify and track items with radio waves, allowing them to manage transport and stocking issues electronically. This is important, considering that $93 billion in revenue is lost by retailers each year because items are out of stock, according to a 2008 joint study by RIS News and the IHL Group.
Since its inception in 2001, Vue had raised about $14 million in capital from the likes of Canaan Partners, Partech International and Marubeni Corp.
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