Vivotech announced today it has sold its reader business to U.S.-based ID Tech, a maker of contactless, magnetic-stripe, bar code and other readers and PIN entry devices.
Vivotech, which said July 27 it had cut its workforce following delays in finding a buyer for its reader business, said that with the sale to ID Tech, it would continue with its plan to focus on its NFC software business. This business includes trusted service management, a mobile wallet and a platform to deliver loyalty rewards.
“Now that the sale of the reader business is complete, we are focusing 100% of our energy on the continued support of our customers, contracts and partners, and on growth of this (software) business,” the company said in a statement.