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NEWSWIRE
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Adurion acquires TAG Company |
09.07.2008 
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HARMONDSWORTH, UK--TAG Company, a provider of anti-shoplifting solutions based here, has been acquired by Adurion Global Opportunity Fund (AGOF), an affiliate of the London-based investment boutique Adurion Capital Limited. The transaction will see AGOF acquire TAG Company's operations in the UK and the U.S. along with all the company's assets and intellectual property. The financial terms of the deal were not disclosed.
Adurion has already invested convertible loan notes amounting to USD 7mln (EUR 4.46mln) into TAG for capital growth, and in a statement the investment firm described the acquisition of the company as "an extension of that investment."
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TAG provides electronic article surveillance (EAS) systems and supplies used by retailers to reduce shoplifting and employee theft. The company sells, installs and services exit and point-of-sale systems, accessories, tags and labels based on either Swept-RF or acousto-magnetic technology.
TAG welcomed the acquisition, saying the deal would help the company continue to grow. "Since Adurion's original investment, we have launched three impressive new technologies that are having exciting impact on the retail loss prevention sector," said TAG's president and CEO Mark Krom. "With Adurion's resources, we will continue our dynamic growth," he added. "We will increase our pace of growth, especially in the Americas and expand our market share there."
For more on this story, see the September/October issue of Security Systems News Europe.
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