Tempe’s American Green acquires leading RFID co. TrackX
Tempe, Arizona’s American Green Inc., announced today that it has completed an acquisition agreement with Denver-based TrackX, LLC, one of the country’s leading providers of complete Radio Frequency Identification (RFID) tracking and cloud-based physical asset management systems. American Green anticipates that TrackX is positioned to be the premiere RFID-enabled asset tracking and supply chain solutions provider globally.
The acquisition will allow American Green to utilize state-of-the-art tracking technology in all States offering a legal cannabis program with a well-established seed-to-sale tracking platform.
“Our decade-long background in technology and our unique position in this emerging sector made this opportunity ideal for our company,” says Stephen Shearin, American Green president.
Currently available market data shows that in 2014, the world RFID market was worth $8.89 billion, up from $7.77 billion in 2013 and $6.96 billion in 2012.
“The opportunities are endless in tracking and efficiency which is why our team spent more than 3 months pursuing and negotiating this critical acquisition,” said Shearin.
In 2009, American Green, Inc., became one of the first publicly traded technology companies in the world serving the medical cannabis industry. The Company’s introduction into the market was with their proprietary ZaZZZ vending machine developed to automate, age-verifying dispensing of cannabis-based medicines.