16 February 2021 – Antares Vision, a leading global provider of intelligent Track & Trace, Inspection and Smart Data Management solutions for the Life Science and Food & Beverage sectors, today announced entering into an agreement for the acquisition of rfXcel Corporation (“rfXcel”), a leading US-based Software-as-a-Service (“SaaS”) company, serving the Life Science and Food & Beverage sectors, for an upfront consideration of $120 million on a debt free and cash free basis.
Key Highlights of the Acquisition
rfXcel’s AI-enabled SaaS platform more than doubles Antares Vision Group’s software business and adds high share of contracted, recurring and scalable revenues
- Combining rfXcel’s industry leading software platform with Antares Vision Group’s Track & Trace complete solution will significantly enhance value for Life Science and Food & Beverage customers in North America, Europe and Asia
- Antares Vision Group will leverage rfXcel’s software to continue to drive global growth and expand into new market segments requiring end-to-end supply chain digitalisation solutions
- The acquisition is expected to be accretive to Antares Vision Group’s (1) revenue growth, (2) EPS and (3) Free Cash Flow from year-1 (before synergies)