Quake Global, Inc. recently announced that it had acquired ODIN Technologies, Inc.
While ODIN Technologies is a global leader in RFID software, service and solution development for the government, healthcare and other industries, San Diego based QUAKE Global, designs and manufacture Machine to Machine (M2M) modems for remote asset tracking and monitoring through satellite, GPS, cellular and other technologies.
The deal was closed on December 31 2012, however, the terms of the purchase have not been released. It was released that ODIN RFID will operate as a division of Quake Global and that the ODIN RFID brand will remain.
QUAKE’s chief executive officer, Polina Braunstein said that the acquisition of ODIN RFID is an important milestone for QUAKE’s goal of achieving the number one provider of innovative RF M2M technology hardware and services at all levels, within the next couple of years.
She added that the merger would be synergistic to both companies and hopes for an exciting future.
She was also certain of the proven experience that both companies had in their given areas and such a merger would only provide complementary expertise to both companies. Braunstein believed that the merger will position both QUAKE and ODIN to become major forces in the exploding M2M market.
ODIN RFID, which has invested more than $50 million into its solutions, had considered venture funding and also acquiring other companies to make a stronger push into the healthcare market. In the end, ODIN felt that a merger with Quake Global represented the best option for growth.
The ODIN RFID purchase allows Quake Global, a manufacturer of M2M communicators for multiple satellite and terrestrial networks, to expand its product line into RFID asset tracking. Quake Global’s proprietary solutions enable customers to track, monitor and control their assets across the globe. The company had lacked an RFID solution for asset tracking until this point.
Edited by
Rich Steeves
