TagMaster acquires Balogh

Press release Stockholm, Sweden,  August 31, 2016

TagMaster, the leading supplier of advanced RFID products and ANPR cameras for
vehicle identification within traffic and rail solutions, today informs that the
acquisition of the French Balogh Group has been concluded.

Balogh is one of the real pioneers in the RFID technology and was founded in
1958 by the parents of the present owner. Balogh today has offices for
development and production in Paris, in Toulouse and in Normandie and works
within the three RFID segments Rail, Access/Security (Traffic) and Industrial
automation.

Balogh has during the first 6 months of the year had a turnover of approximately
2 M€ with a nil result and has at the time of take-over 36 employees. The
company also has an interesting order book for the autumn 2016 and into the
first quarter of 2017.

”TagMaster is enthusiastic about this our next step in our growth strategy and
we will together with Balogh become a stronger supplier in both Rail and Traffic
solutions and we will continue building a relevant supplier in Smart City
solutions. We intend to use our new structure to create a “center of
excellence”, for Rail solutions in France and put together our Swedish and
French competencies to enable widening of our product offering to the leading
actors in train signaling and enable us to take on bigger and more projects. We
are glad to see Etienne Balogh having chosen to continue and he will take on the
role as sales director for the total Rail business and become part of the
management team. In Traffic solutions we will focus on the TagMaster product
assortment, especially our new UHF family, and we will through this be able to
make product development as well as production more efficient. Through the
acquisition we also increase our presence in France and other south European
countries and we get a new sales channel for our CitySync products. Altogether
we expect the two acquisitions, CitySync and Balogh, should give us a sales base
beyond 100 MSEK and profitable in 2017.” says Jonas Svensson, CEO, TagMaster


For further information please contact:

Jonas Svensson, CEO, +46 8-6321950, jonas.svensson@tagmaster.com

About TagMaster

TagMaster is an application driven technology company that designs and markets
advanced   identificationsystems and solutions based on radio & vision
technology (RFID & ANPR) for demanding environments. Business areas include
Traffic Solutions and Rail Solutions providing innovative mobility solutions,
sold under the brands TagMaster & CitySync, in order to increase efficiency,
security, convenience and to decrease environmental impact within Smart Cities.
TagMaster has dedicated agencies in the US and in China and exports mainly to
Europe, Middle East, Asia and North America via a global network of partners,
systems integrators and distributors. TagMaster was founded in 1994 and has its
headquarters in Stockholm. TagMaster is a public company and its shares are
traded on First North stock exchange in Stockholm, Sweden.TagMasters certified
advisor is Remium Nordic AB. For more information about TagMaster, please visit
www.tagmaster.com