AdvanIDE’s headquarters and service center are located in Singapore, and its subsidiaries are based in the U.S. (AdvanIDe Americas Inc. in Natick, Mass.), Germany (AdvanIDe Europe GmbH), Beijing and Mumbai.
AdvanIDE provides semiconductors for the smart card and RFID industry.
The company was originally known as ACG when it was bought by Sweden-based ASSA ABLOY, which specializes in door opening solutions.
Having the Japan South East Asia Growth Fund as a shareholder, “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 [Internet of Things], authentication and security markets,” said AdvanIDe CEO Holger Roessner.
AdvanIDe expects its 2017 revenues to exceed $150 million, according to Roessner.
“I find it very satisfying that AdvanIDe gets a committed long-term investor that gives the business a new strategic home and creates opportunities for a continued positive development” said Johan Molin, ASSA ABLOY’s president and CEO.