From humble beginnings and “sweat and venture funding” to a recent $16 million acquisition, UC Berkeley rooted Sensys Networks has a promising future ahead.
TagMaster, a leading supplier of advanced sensor systems for Smart Cities within Traffic and Rail, has signed an agreement to acquire Sensys Networks Inc.
“We are very pleased to be joining the TagMaster group. We recognize and welcome the strength that the union will bring to both brands and the synergies that are immediately apparent with the other TagMaster companies,” says Haoui, Sensys Networks CEO.
Sensys Networks is a leading provider of advanced data solutions for Intelligent Transportation Systems (ITS) by providing wireless vehicle-detection solutions that allow transportation agencies to obtain and utilize accurate, real-time data on traffic movement. Unlike inductive loops — sensors embedded in roadway pavement— Sensys Networks’ next-generation technology uses wireless magnetic vehicle detection systems that can be installed wherever detection is needed without digging up pavement. And, unlike video detection, the sensors perform in all weather and lighting conditions.
Pravin Varaiya, emeritus professor of electrical engineering and computer science (EECS) founded Sensys in 2003 with fellow EECS alumni Robert Kavaler and Amine Haoui, based on research from his lab on improving the quality of loop- detector data.
It took the team five years to bring the product to market, supported by “sweat and venture funding,” said Varaiya. By 2015, the Berkeley-based company employed 80 people and had 200 customers spanning 40 states and 10 countries. The Intelligent Transportation Society of America recognized Sensys Networks’ VDS240 wireless vehicle- detection system as the “Best Innovative Technology for 2008.” Sales for 2018 was approximately $15 million.
Sensys Networks’ products are deployed as part of several ITS applications including Traffic Signal Control, Traveler Information Systems, Tolling and Road Pricing, Safety and Enforcement. The ITS market is estimated to be $66B globally by 2024, with growth driven largely by the increasing global demand for Smart City solutions.
”TagMaster is very excited about this important step in our growth strategy, as Sensys Networks makes us stronger in the ITS and Smart City markets. With the combined expertise of Sensys Networks and TagMaster, we have excellent revenue growth opportunities in both US and European markets” says Jonas Svensson, CEO, TagMaster.
Both Sensys Networks and TagMaster are leading technology providers in the Smart Cities sector, selling direct and through channel partners to end users such as authorities and road operators.
The acquisition provides the companies with an enhanced capacity for creating future products and solutions in the US and Europe, as well as a platform to deliver next-generation infrastructure to smartphone applications for connected travelers and autonomous vehicles. I2X has significant market potential from agencies, OEMs, fleets and other smartphone enabled travelers.
About TagMaster
TagMaster is an application driven technology company that designs and markets advanced sensor systems and solutions based on radio and vision technology (RFID, Radar and ANPR) for demanding environments. Business areas include Traffic Solutions and Rail Solutions sold under the brands TagMaster, CitySync, Balogh, CA Traffic, Magsys and Hikob with innovative mobility solutions in order to increase efficiency, security, convenience and to decrease environmental impact within Smart Cities. TagMaster has dedicated agencies in the US and in China and exports mainly to Europe, The Middle East, Asia and North America via a global network of partners and systems integrators. TagMaster was founded in 1994 and has its headquarters in Stockholm. TagMaster is a public company and its shares are traded on First North stock exchange in Stockholm, Sweden.