Barely a month after being purchased by a private equity firm, the barcoding and data collection provider Peak-Ryzex has made an acquisition of its own, buying Inovity Inc., a vendor of automatic identification and data capture (AIDC) labels, media, and hardware.
Terms of the deal were not disclosed, but financial firm Sole Source Capital LLC said the move was its seventh investment in the sector, following its move last month to buy both Peak-Ryzex and mobile technology provider Optical Phusion Inc. and merge them into a single company.
Adding Atlanta-based Inovity to that mix brings aboard a value-added reseller of AIDC equipment with a focus on the healthcare, manufacturing, and industrial end-markets. Following the deal, Inovity founders Jack Tinsley and Steve George will join Peak-Ryzex as well.
Columbia, Maryland-based Peak-Ryzex said the maneuver will also expand its product offerings and enhance its knowledge base.