Intellitix, global RFID cashless payment and access control innovator, has acquired a controlling stake in Netherlands based LOC Pay Systems, 9th January, 2017.
LOC Pay Systems supplied 200 festivals and venues across Europe in 2016 with its token-based payment system and will continue to operate from its head office in Lochem, Netherlands, retaining its 13 full time employees under the management of CEO Roland Wassink.
Intellitix has grown organically to date, aiming to provide Cashless RFID environment to 500 events in 2017. The acquisition of LOC Pay Systems, which until 2015 was a division of LOC 7000, marks the first time Intellitix has expanded by acquisition.
Serge Grimaux, Intellitix CEO states: “There is a great synergy between our companies in our approach to delivering the best possible, practicable Access Control and Payment Systems to events. “The acquisition of LOC Pay Systems aligns with our core belief that clients’ confidence to use new technology is centred around trust and proven track records. There is a fantastic team at LOC Pay Systems with a strong reputation based on multiple successes for their clients across the years. They will introduce our RFID technologies to an event or venue when appropriate. Where it can bring benefits to a client we know LOC Pay Systems advice will pave the path for the use of our technologies.
Bringing the two companies together means that LOC Pay Systems clients will now have access to RFID Cashless technology, while Intellitix’s global network of events can draw on the considerable expertise and experience within the Netherlands based team of events payment solutions professionals.
Serge continues: “Members of the Intellitix team will work with the Lochem’s based team and I am confident that a quarter of the events serviced by the new LOC Pay Systems / Intellitix group will already utilise our RFID technology this year. I am extremely proud to officially welcome the LOC Pay Systems team to our company, make them officially part of the IntelliTeam and, foremost, their visionary leader Roland Wassink.”
Roland Wassink comments: “Bringing Intellitix and LOC Pay Systems together makes us very unique for our mutual clients. We enjoy very close understanding of our clients’ requirements and their events, so being able to offer them a range of payment options from tokens to cashless RFID technology will be a great advantage to them. We have been researching RFID technology for several years, so we are very excited about being able to offer Intellitix’s proven technology not only for cashless but also for experiential and access control, with our staff project managing the implementation opportunities into Europe and beyond. This merger is a memorable moment in the history of payment solutions in our market and globally.”