TradeWindow Acquires Auckland-Based Supply Chain Interfaces Developer Rfider

Albertus “AJ” Smith (TradeWindow)

Credit: TradeWindow

NZX-listed commercial technology company TradeWindow has signed a conditional agreement to buy the business and assets of Auckland-based Rfider,

Rfider develops a mobile interface that can be quickly deployed in complex supply chains to capture many data points. This will help TradeWindow extend its reach deeper into primary industry supply chains by providing traceability to points of cultivation and production.

The maximum purchase price is $10 million and the final purchase price will be commensurate with achieving aggregate revenue of $4.22 million over the two-year period.

TradeWindow CEO AJ Smith said the acquisition significantly enhanced TradeWindow’s existing provenance solution, with its impressive user experience and broader target market.

“We are excited about the synergies. Rfider’s functionality will strengthen TradeWindow’s offering for our customers who compete on transparency of origin, ethical practices, sustainability and quality,” said Smith.

“It also expands our offerings to our clients beyond the export operations team to help address broader issues that are of concern to the marketing team and senior management/board in regards to sustainability and verification marketing claims for ESG reporting.”

A qualified team and customers from Australasia, Europe, the United States and South America will pitch in on the acquisition to dramatically accelerate TradeWindow’s entry into the traceability market.

The deal would give TradeWindow positive exposure to an estimated $16.8 billion global market opportunity for food traceability.

“We are proud of the progress we have made in bringing traceability in global supply chains down to the individual item level,” said Rfider Founder and CEO John Pennington, who will join TradeWindow as Chief Executive Officer. ’employee.

“By combining our FDA-winning solution with TradeWindow, our combined customers will be served with an even more powerful solution.”

Pennington, who established Deloitte Digital in New Zealand, has also worked with the Boston Consulting Group and Apple.

Last year, Rfider’s interoperable food traceability solution won the US FDA’s 2021 “New Era of Smarter Food Safety Low-or No-Cost Tech-enabled Traceability Challenge”.

Rfider is owned by Pennington, President Bruce Gordon and K1W1, among others.

The acquisition will be TradeWindow’s first since its listing on NZX in late November 2021, but follows previous acquisitions of Prodoc, IVS Origin, Cyberfreight, Freight Legend and SpeEDI aimed at consolidating a fragmented industry.

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Tags supply chainlogisticstradetraceabilityTradeWindowRfider