AdvanIDe, Advanced ID Electronics, the leading independent provider of semiconductors for the smart card and RFID industry, has announced that it was acquired by Japan South East Asia Growth Fund L.P.
Achieving important corporate milestone
The Japan South East Asia Growth Fund L.P. is a joint venture fund, managed by RISA PARTNERS INC. – a Japan-based investment bank, and Development Bank of Japan Inc., a Japanese government-owned financial institution. With more than 20 years of experience in the provision of semiconductors and value-added services, products and solutions to the ID market, AdvanIDe has achieved an important corporate milestone with this investment.
Originally known as ACG, the company was acquired in 2003 by Sweden-based ASSA ABLOY, which then spun off ACG’s component operation into a separate business unit called AdvanIDe in 2007.
AdvanIDe Holdings Pte Ltd, which is based in Singapore, will serve as corporate headquarters and service centre, with the subsidiaries AdvanIDe Europe GmbH based in Walluf, Germany, AdvanIDe Americas Inc. in Natick, Mass., USA; and newly established subsidiaries in Beijing, China and Mumbai, India. The group will operate from 11 offices that are located in key international markets and three representative offices in Korea, Japan and Taiwan.
Furthering global growth
“We welcome the Japan South East Asia Growth Fund L.P. to become a shareholder in AdvanIDe, which will enable us to expand on our growth trajectory and build our strategy to become the leading provider of semiconductors and related value-added products and services to the identification, IoT, authentication and security markets,” said Holger Roessner, CEO of AdvanIDe.
“We are delighted to support AdvanIDe Holdings Pte Ltd to become a fully independent company and to further their growth in the global marketplace,” said Hideki Iiyama, director of the Japan South East Asia Growth Fund.
AdvanIDe employs 56 people and expects revenues in excess of USD $150M in 2017 and services clients in vertical markets such as secure access (physical access control, loyalty, RFID, NFC, smart mobility), secure authentication and secure communication as well as citizen ID and financial transactions.