Subscribe to AfterDawn's weekly newsletter.
Stora Enso PackAgent Software Business Merged With Trackway
HELSINKI, Finland, January 8 /PRNewswire/ --
- Arrangement Builds on Joint Innovation
Stora Enso Consumer Board's PackAgent software business has been merged
with the Finnish software provider Trackway Oy. Stora Enso Ventures Oy has
acquired a majority shareholding in Trackway. PackAgent is a software
solution jointly developed by Stora Enso and Trackway for authentication,
tracking and tracing of products throughout the supply chain.
Counterfeit products and grey economy production comprise a huge global
problem. The PackAgent software solution jointly developed by Stora Enso and
Trackway is an innovation that enables companies and consumers to
authenticate, track and trace products, effectively preventing the entry of
counterfeit products into the distribution channel. The software is
compatible with various product identification technologies such as barcode,
RFID and nanotechnology.
Trackway has delivered software solutions for logistics, manufacturing
and asset-tracking based on barcodes, RFID and GPS technologies since 2001.
The company has cooperated with Stora Enso for three years.
"Stora Enso Ventures' investment in our company will accelerate the
planned entry of Trackway into the international market and it will provide a
solid base for our business development," says Marko Merenheimo, CEO,
Trackway. In connection with this arrangement, the employees from Stora Enso
PackAgent team will be employed by Trackway.
CEO Marko Merenheimo succeeds Jari Kaitera, who has been appointed Deputy
CEO in charge of Trackway's finance and business operations. The company aims
to become established as an international supplier of authentication and
tracking solutions in cooperation with leading brand owners. Previous
investors in Trackway, including Mentorium Venture Connection Oy, Finnish
Industry Investment Ltd and a fund managed by Inventure Oy, will remain among
company owners.
For further information:
Marko Merenheimo
CEO, Trackway Oy
E-mail marko.merenheimo@storaenso.com
Tel. +358-400-480-181
Jari Kaitera
Deputy CEO, Trackway Oy
E-mail jari.kaitera@trackway.eu
Tel. +358-20-741-8800
Petteri Leskinen
MD, Stora Enso Ventures Oy
E-mail petteri.leskinen@storaenso.com
Tel. +358-2046-21497
http://www.packagent.com
http://www.trackway.eu
http://www.storaenso.com/venturing
