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Print Edition StoriesBurlington-based radio frequency identification technology maker Tagsys RFID Group Inc. has appointed Alain Fanet, co-founder and former CEO of California system on chip maker Arteris Inc., to the post of CEO.
Fanet takes the chief executive reigns from William Stuek, the company’s chairman since 2007 and CEO since early 2008, when he took over for Elie Simon, who left the company “to pursue other interests,” according to an announcement at the time. Stuek will remain with the company as chairman of the board.
Fanet helped found Arteris and T.sqware Inc., a high-performance network processing firm also based in California that was purchased by Globespan Inc. in 2000 for $200 million in stock. Recently, Fanet has served as the president of the European Technology Tour Association, an industry body that helps up-and-coming technology companies expand internationally.
In September 2007, Tagsys raised $16 million in private funding, the second tranche of a $35 million funding round announced in May 2007.
Tagsys, which makes RFID infrastructure products for item-level tracking in a variety of industries, was originally founded in France and moved to the U.S. (Pennsylvania) in 2004 and Massachusetts in 2006. The company claims 200 million tags in the field, across 500 customers, and has raised more than $80 million in funding from a syndicate of investors, including J.P. Morgan, DFJ Esprit, Endeavour, Elliott Associates LP, Saffron Hill Ventures, and Add Partners.
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