Nanotechnology Now - Press Release: STORA ENSO: Stora Enso PackAgent software business merged with Trackway

Home > Press > STORA ENSO: Stora Enso PackAgent software business merged with Trackway

Abstract:
Stora Enso PackAgent software business merged with Trackway -
Arrangement builds on joint innovation

STORA ENSO: Stora Enso PackAgent software business merged with Trackway

Finland | Posted on January 7th, 2008

Stora Enso PackAgent software business merged with Trackway -
Arrangement builds on joint innovation

Stora Enso Consumer Board's 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 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.

CEO Marko Merenheimo succeeds Jari Kaitera, who has been appointed
Deputy CEO in charge of Trackway's finance and business operations.
The company aims to become established as an international supplier
of authentication and tracking solutions in cooperation with leading
brand owners. 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.

####

About Trackway Oy

For more information, please click here

Contacts:
Marko Merenheimo
CEO, Trackway Oy
Tel. +358 400 480 181
E-mail

Jari Kaitera
Deputy CEO, Trackway Oy
Tel. +358 20 741 8800
E-mail

Petteri Leskinen
MD, Stora Enso Ventures Oy
Tel. +358 2046 21497
E-mail

www.packagent.com
www.trackway.eu
www.storaenso.com/venturing
www.storaenso.com/productnews