July 27, 2004

Matrics 6-bags in buyout

RFID and EPC By: ams

Matrics Agrees To Acquisiton By Symbol

Yep, another scurrilous bit of RFID news: Matrics gets bought for cash-on-the-barrelhead, $230M on a $38M investment.


The early success of Matrics in selling radio frequency identification (RFID) systems made the five-year-old company one of the Washington area’s more prominent local start-ups. The purchase will give Symbol, which sells bar-code scanning and retail tracking systems, access to an emerging technology that analysts say will become central to the next generation of supply chain management.

Matrics raised a total of $38 million in three rounds of funding from investors including Novak Biddle Venture Partners of Bethesda, the Carlyle Group of the District, and Polaris Venture Partners of Waltham, Mass. Two local investment organizations, WomenAngels.Net and the Dinner Club, also hold stakes in Matrics.

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