Cubit Takes On the Sokymat Name

Technology manufacturer shares the title with its new parent RFID company

Granges — February 17, 2005 — Sokymat, a supplier of radio frequency identification (RFID) transponders, said that its recently acquired company, Cubit Electronics GmbH, will change its name to Sokymat GmbH.

"Our decision to also bring our German organization under the Sokymat name was based on the fact that Sokymat has become the most preferred transponder brand in the RFID market," commented Carsten Nieland, managing director of Cubit.

He went on to say that Sokymat and Cubit Electronics have already been sharing common values, providing the industry with new approaches in terms of quality and reliability to deliver products. Both companies boast patented technologies, Sokymat having technologies in the area of low frequency (LF) transponder manufacturing and Cubit having processes for high frequency (HF) products.

Ayman Ashour, co-CEO of ASSA ABLOY Identification Technology Group (ITG), said, "The decision to rename Cubit to Sokymat reinforces the profile of Sokymat as the prime manufacturer of RFID transponders within the Identification Technology Group (ITG) and the automatic identification industry at large."

Mr. Fitzhuth, founder of Cubit, will remain with Sokymat as a Management and Technology advisor, however has decided to hand over his day-to-day executive responsibilities after 14 years of activity.