American Green Inc (OTCMKTS:ERBB) reported that it has executed an acquisition deal with TrackX, LLC, a Denver-based firm. It is one of the nation’s pioneer provider firms of complete RFID tracking and cloud-dependent physical asset management solutions. It possesses and maintains process services and patents designed to meet needs of various nationally recognized clients.
American Green states that TrackX is well positioned to be the leading RFID-enabled tracking and supply chain offering provider across world. As per the available data, in 2014 the global RFID market was valued at $8.89 billion compared to $7.77 billion in 2013. Back in 2012, the global RFID market was worth $6.96 billion. This includes software, tags and readers for RFID cards, fobs, labels and all other form elements. TrackX is well placed to become the next-gen platform for the “Internet of Things.” The respective industry is estimated to become a market of $14.4 trillion by 2022.
The expert view
Stephen Shearin, American Green Inc (OTCMKTS:ERBB)’s President, said that the decade-long background of company in technology and its strong position in the emerging market made this deal ideal for company. The company is eager to help TrackX in maximizing the way it serves its customer list, assist them complete their operations effectively and develop new business, supported by American Green’s extensive tracking candidates that company has developed in growing sector.
The market is huge and therefore the team has devoted over three months pursuing this critical acquisition deal. TrackX CEO, Tim Harvie, said that they have worked for years to create and service a strong customer list and the technology that helps company to provide innovative cutting -edge solutions.
In last trading session, the stock price of ERBB declined more than 4% to close the trading session at $0.00400. The decline came at a share volume of 10.73 million compared to average share volume of 11.10 million.