Advanced ID targets RFID firm for buyout

The RFID technology provider, Advanced ID Corporation, has entered into negotiations to acquire an as yet unnamed RFID business to "substantially increase the company's growing revenues". Barry Bennett, President and CEO for Advanced ID Corporation commented: "Successful completion of this acquisition would be expected to significantly increase our customer base and revenues, and represents a strong fit with our current business model"...

Advanced ID Corporation, which trades on the Over the Counter Bulletin Board (OTCBB:AIDO), markets microchip identification technologies referred to as radio frequency identification ("RFID") microchips and scanners. RFID allows for the positive identification and location tracking of animals or objects that are identified with a RFID microchip.

The Company currently supplies over 3,000 organizations such as animal shelters, veterinarians, breeders, government agencies, universities, zoos, research labs and fisheries with RFID devices for companion animals, exotics, equines, bovines, llamas, alpacas, ostriches, aquatic species, reptiles, migratory and endangered species.

Advanced ID is expanding its market from the companion animal and biological sciences sectors to include the livestock and inanimate industries.

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More about: Advanced ID Corporation, through its wholly owned subsidiary AVID Canada Corp., markets and distributes microchip identification technologies referred to as radio frequency identification (RFID) microchips.

The Company supplies over 3,000 organizations such as animal shelters, veterinarians, breeders, government agencies, universities, zoos, research labs and fisheries with RFID devices for companion animals, exotics, equines, bovines, llamas, alpacas, ostriches, aquatic species, reptiles, migratory and endangered species.

Advanced ID's product line includes over 50 RFID devices (tags), readers and scanners, computers and other data storage hardware, along with its proprietary PETtrac software system.

PETtrac is Advanced ID's proprietary industry leading Internet database software for the companion animal market. PETtrac provides clients worldwide access to detailed information on their pets ensuring their safe return home should they become lost. The PETtrac program is approved by the Canadian Veterinarian Medical Association (CVMA) for national use in clinics, veterinarian offices and humane societies, thus tapping a market of over eight million animals.

As a pioneer in RFID for animal tagging in Canada, Advanced ID Corporation is well positioned to offered a boarder range of product catagories by:

Offering high integrity and cost effective identification solutions over current practices in the worldwide legislated/mandatory livestock markets with specially developed RFID products, and a web-based tracking and recovery system. In the livestock industry, the incidence in 1998 of the B.S.E. disease in Europe resulted in legislation to track animals throughout their life cycle. Current bar code technology is now being replaced by RFID technology resulting in significant market potential for the 110 million head of cattle in North America and the one billion head of cattle worldwide.

Expanding into other veterinary clinics, SPCAs, animal shelters and other markets. Entering into the following high-growth inanimate markets:
Asset tracking and protection, Inventory control, Supply chain and materials management, Logistics support systems, Hands-free entry system.
Industries are demanding increased efficiencies in logistics, distribution, asset management, and tracking.

Industry observers report that the US RFID market in 1997 was US$490 million in revenues and was forecast at $1.6 billion for 2002. The global RFID market reached over $900 million in 1999, and worldwide revenues are forecast to reach $7.5 billion by 2006. Advances in chip design, miniaturization, global positioning (GPS) tracking, read/write capabilities, and data storage have greatly expanded inanimate applications for RFID tags. RFID systems are being piloted and used in a wide range of retail, commercial and industrial applications.