Antares Vision Group acquires software company, Smart Point Technologies

Antares Vision Group has acquired, through its subsidiary rfxcel, 100 per cent of Smart Point Technologies, an Indian software product development company. The total cash-out for Smart Point has been agreed to as €7.8 million, of which €5.4 million was paid at closing and the remaining portion will be paid within 18 months.

A company statement informed, “Smart Point has built expertise mainly in the pharma Track and Trace and it works directly with top pharma companies in the world, which are end customers of Antares Vision Group. In FY22/23 (year-end March), Smart Point had 124 employees in India and Germany and revenues of approximately €3.9 million (of which roughly 90 per cent were generated with rfxcel), with an EBITDA of around €2.0 million.

“The acquisition of Smart Point will strengthen our software portfolio, aim to provide the most integrated ecosystem of solutions for products and supply chains, and guarantee quality, safety, efficiency and sustainability. Furthermore, it allows to increase and expand our presence in the Indian market. The deal is consistent with our growth strategy we recently presented in our 2022-2025 strategic plan; in particular, we forecast a +17/19 per cent CAGR in the Smart Data/SaaS area in the next three years,” said Emidio Zorzella, Chairman and Co-CEO, Antares Vision Group.

“We have been working with Smart Point for many years. This acquisition allows to internalise very skilled resources, combined with an outstanding expertise. This software development team has been working together for a long time and their know-how is a valuable asset for Antares Vision Group as we continue to invest in technological development to support our growth and to drive the innovation and digitalisation process of products and supply chains,” added Glenn Abood, CEO, rfxcel.