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Month: December 2017

Neology Completes Acquisition of 3M’s Tolling and License Plate Recognition Business

Neology, Inc. today announced that it has successfully completed the acquisition of the Tolling and Automated License/Number Plate Recognition business of 3M’s Transportation Safety Division. Neology is a subsidiary of SMARTRAC, an investment managed by One Equity Partners (OEP), a middle-market private equity firm. With the acquisition, Neology expands its portfolio of best-in-class products with integrated end-to-end tolling solutions including high-quality RFID readers and tags, automatic vehicle classification systems, lane controller and host software, and back office software and services. It also offers a full spectrum of mobile and fixed cameras, software, and services in automated license/number plate recognition to service the Security and Law Enforcement market segments. “Today marks a major leap in advancing our vision of being a trusted source of advanced Tolling, ITS, and ANPR solutions in the world,” said Francisco Martinez de Velasco, Neology’s founder and CEO. […]

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