Novanta to Acquire ThingMagic

Photonic technologies developer Novanta Inc. has reached an agreement to acquire ThingMagic, developer of ultrahigh-frequency (UHF) radio-frequency identification (RFID) reader engines, for $20 million in cash.

ThingMagic's business operations and product offering will be combined with the company's Jadak Technologies Inc. business, a developer of scanners and machine vision systems.

"By combining the resources and RFID-based technologies of Jadak and ThingMagic, Novanta will be uniquely positioned to be the leading provider of high-performing RFID solutions for mission critical applications to original equipment manufacturers within the health care industry," said Matthijs Glastra, CEO of Novanta. "ThingMagic broadens our portfolio of solutions in a high-growth technology area, while giving us the resources to address the growing need for improvements in workflow solutions, patient safety, anti-counterfeiting, and asset tracking in a medical environment."

Novanta is a supplier of technology solutions for advanced industrial and healthcare OEMs.