Frontiers Capital, a UK-based venture capital company has made its first foray into the South African market by investing $1,2 million in Wavetrend Technologies, a provider of wireless identification solutions.
Wavetrend specialises in the research, development and sales of integrated RFID (radio frequency identification) hardware and software solutions for asset monitoring, tracking and management with security and logistics applications. The company has subsidiary offices in South Africa, United Kingdom and the United States as well as numerous business partnerships around the world.
Peter Stokes, a principal of Frontiers Capital, says the primary reason for investing in Wavetrend is because it has leading edge products built around its core proprietary RF technology that address the rapidly growing global demand for active RFID solutions.
A further attraction to Frontiers Capital is Wavetrend's long-standing and committed investment in its South African R&D and manufacturing base. "Rand costs with US dollar revenues is very compelling. Such a business model makes the product very price competitive on a global basis and enables the company to maximise its profitability. A key factor is that owing to the relatively low cost base of its SA-based R&D centre, the company is able to continue to invest in research and engineering projects," says Stokes.
For more information: Wavetrend SA, 011 462 2633, [email protected]
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