Arrangement builds on joint innovation
Stora Enso Consumer Boards PackAgent software business has been merged with the Finnish software provider Trackway Oy. Stora Enso Ventures Oy has acquired a majority shareholding in Trackway. PackAgent is a software solution jointly developed by Stora Enso and Trackway for authentication, tracking and tracing of products throughout the supply chain.
Counterfeit products and grey economy production comprise a huge global problem. The PackAgent software solution jointly developed by Stora Enso and Trackway is an innovation that enables companies and consumers to authenticate, track and trace products, effectively preventing the entry of counterfeit products into the distribution channel. The software is compatible with various product identification technologies such as barcode, RFID and nanotechnology.
Trackway has delivered software solutions for logistics, manufacturing and asset-tracking based on barcodes, RFID and GPS technologies since 2001. The company aims to become established as an international supplier of authentication and tracking solutions in cooperation with leading brand owners. The company has cooperated with Stora Enso for three years.
Stora Enso Ventures investment in our company will accelerate the planned entry of Trackway into the international market and it will provide a solid base for our business development, says Marko Merenheimo, CEO, Trackway. In connection with this arrangement, the employees from Stora Enso PackAgent team will be employed by Trackway.
Previous investors in Trackway, including Mentorium Venture Connection Oy, Finnish Industry Investment Ltd and a fund managed by Inventure Oy, will remain among company owners.
For further information:
- Marko Merenheimo, CEO, Trackway Oy
marko.merenheimo (at) storaenso.com
Tel. +358 400 480 181
- Petteri Leskinen, MD, Stora Enso Ventures Oy
petteri.leskinen (at) storaenso.com
Tel. +358 2046 21497
- Antti Kummu, Investment Director, Finnish Industry Investment Ltd
antti.kummu (at) industryinvestment.com
Tel: +358 9 6803 6835