RFID and IoT specialist Smartrac and Catalyst, a global supplier of retail solutions, have signed a memorandum of understanding (MoU). The two companies will join forces in developing comprehensive RFID and IoT solutions that will empower retailers and brands to leverage data to significantly improve in-store performance and optimize customer experiences and product lifecycles.

Smartrac and Catalyst have independently developed and marketed solutions based on RFID technology and the Internet of Things (IoT) for brands and retailers. By combining their respective strengths, they are best-positioned to respond to an ever-increasing market demand for innovative solutions that enable compelling services for retailers, brands and consumers.

As part of the agreement, Smartrac will contribute its peerless RFID experience and its IoT prowess, demonstrated by its industry-leading IoT delivery platform, Smart Cosmos, and its Retail Store Optimization and Smart Brand Experience solutions.

In addition to industry-leading retail technology solutions, Catalyst draws upon the in-depth knowledge and expertise in supply chain and retail industries as a part of Li & Fung, the leading consumer goods design, development, sourcing and supply chain management company.

“We are very pleased about the cooperation between Smartrac and Catalyst. Together, we can leverage the full potential of this partnership to develop unique and valuable end-to-end IoT solutions for retailers and brands that will allow them to go ‘super-digital’ and take full advantage of the latest innovations in retail technology,” says Christian Uhl, CEO and Chairman of the Management Board, Smartrac Technology Group.

“As the retail markets continue to rapidly evolve and ultimately require innovative developments, our agreement with Smartrac will be an important step towards providing end-to-end supply chain offerings to our customers worldwide and foster a future-proof ecosystem for retailers and brands,” adds Ian Billetop, Managing Director, Catalyst.