Industry Opinion By Louis Sirico

It seems RFID is no longer a bad word in the financial community.  Venturing into a market other investors have recently avoided, Pharos Capital Group has confidently acquired Rush Tracking Systems for an undisclosed amount. 

“Rush Tracking Systems is a solid company with a proven solution that yields real business benefits to a growing customer base”, explained Jim Phillips, partner of Pharos Capital Group, during our telephone interview.  The “proven solution” Mr. Phillips is referring to is the VisiblEdge RFID lift truck solution which we reviewed in Episode 4 of The RFID Network video series.

Although ownership of Rush Tracking Systems will be transferred to Pharos Capital, the company will remain standalone at its existing headquarters in Kansas City, Kansas, with Toby Rush continuing to serve as the company’s president.  The entire management team and staff will also remain in place.

“We weren’t looking to be acquired; Pharos Capital found us”, added Toby Rush.  “We’ve been a profitable company for the past few years.  The Pharos acquisition simply enables us to continue to grow our business, by developing additional enhancements to our VisiblEdge RFID lift truck solution and hiring new talent to support our growing client base”.

“The acquisition serves as further validation that end-to-end RFID solutions are viewed as critical to market development and end-user adoption,“ said Michael Liard, practice director, RFID for ABI Research.  “Across industries, companies are increasingly looking for innovative, effective and reliable total solutions from companies like Rush Tracking to increase productivity and reduce costs as well as deliver business process improvement across operations.”

Personally I’ve seen too many companies in the RFID industry whose ability to hype exceeds their ability to deliver, which is an important reason why the financial community had become afraid of RFID.  Experts in the RFID industry know that Rush Tracking Systems has always had the ability to deliver, so this announcement should come as no surprise.

Liard adds, “In these challenging economic times, the news is considered a win for Rush, Pharos, and the RFID industry. The acquisition signals a vote of confidence in both RFID technology and the total solutions approach.”

About Rush Tracking Systems
Rush Tracking Systems provides world-class RFID systems integration and business process consulting services for organizations looking to maximize the business value and performance of investments in RFID tracking technologies. The company offers unsurpassed RFID technical expertise and market-proven products from the industry’s leading manufacturers.

As RFID industry veterans, Rush Tracking has the experience and integrity to recommend, build and deliver the right tracking solutions to meet clients’ business needs.  The company has proven expertise in industrial manufacturing, aerospace and defense, automotive, pharmaceutical, consumer packaged goods, retail, and petrochemical industries. Call (913) 227-0922 or visit www.rushtrackingsystems.com.

About Pharos Capital Group, LLC
Based in Dallas and Nashville, Pharos Capital Group (www.pharosfunds.com) currently has $600 million in capital under management. Pharos primarily invests in companies seeking growth and later stage equity funding for internal growth, acquisitions, management buyouts or recapitalizations across industry sectors, with particular focus on healthcare, business services and applied technology.

Contact:
Sue Jessee     
Rush Tracking Systems
(913) 209-3860
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For Pharos
Caroline Luz
Owen Blicksilver Public Relations, Inc.
(203) 656-2829
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