Identive buys out Polyright

US-based radio frequency and identification (RFID) provider Identive Group has snapped up Swiss identity management company Polyright, reports Digital ID News.

The acquisition follows an agreement between Identive's Multicard AG subsidiary and Polyright's parent companies, Securitas AG and the Kudelski Group.

M&A reveals that Mauro Saladini, Kudelski chief financial officer, says: “We are very happy to have found the right partner who will further develop Polyright's activities.

“Our decision to sell our equity position in Polyright is an outcome of the strategic review of the Kudelski Group activities announced in February 2011.”

According to MarketWatch, the deal is expected to align Polyright with Identive's market activities around identity management.

Ayman Ashour, chairman and CEO of Identive Group, says: “Polyright's exceptional position in the education and healthcare markets in Switzerland will provide a strong addition to our Multicard business in the loyalty and commercial sectors.”