SAN DIEGO, June 30, 2017 (GLOBE NEWSWIRE) — Neology, Inc. today announced that it has successfully completed the acquisition of the Tolling and Automated License/Number Plate Recognition business of 3M’s Transportation Safety Division. Neology is a subsidiary of SMARTRAC, an investment managed by One Equity Partners (OEP), a middle-market private equity firm.
With the acquisition, Neology expands its portfolio of best-in-class products with integrated end-to-end tolling solutions including high-quality RFID readers and tags, automatic vehicle classification systems, lane controller and host software, and back office software and services. It also offers a full spectrum of mobile and fixed cameras, software, and services in automated license/number plate recognition to service the Security and Law Enforcement market segments.
Source: Neology Completes Acquisition of 3M’s Tolling and License Plate Recognition Business