Infineon spin-off raises $4.8 million

The money is set to be used by RF-iT Solutions (Graz, Austria) for expansion of the Your Open Operating Environment, a plafform for RFID system integration, Pontis said.

RF-iT Solutions was founded in July 2005 and is due to take over all activities related to RFID system solutions from Infineon. In addition, RF-iT Solutions is expected to operate an RFID a center in Graz to showcase RFID applications, a development laboratory for sector-specific RFID solutions, a verification laboratory to carry out technology research and a customer training center.

“It is our objective to establish the Your Open RFID operating environment as a de facto standard in the marketplace,” said Dominik Berger, founder and managing director of RF iT Solutions, in a statement issued by Pontis.

“We are delighted that RF iT Solutions continues to develop Infineon’s former RFID software and solutions business. Its outstanding product portfolio and innovative business model will accelerate market dynamics significantly,” said Monika Kircher-Kohl, chief financial officer of Infineon Technologies AG Austria.