Vue Technology, formerly Intelligent Systems, a division of MeadWestvaco's New Ventures Group, is the latest RFID company to get venture funding.

"Last week Partech International and Canaan Partners acquired the company to further its RF Networking and item-level RFID solution development. The funding will also enable Vue Technology to extend its sales and distribution capabilities. Vue Technology will operate independently with representatives from Canaan, Partech and MeadWestvaco serving on its Board of Directors."

Vue Technology has an item-level RFID solution for inventory tracking that it says is scalable for large scale installations.

This is an interesting transaction. A company that was an intrapreneurial venture inside a large corporation has now been sold to two venture capital firms. The supposed reason for the transaction was to gain funding for development and sales. But, of course, as part of MeadWestvaco they already had access to deep pockets. I'm sure there's an interesting backstory to this one.

Tags: RFID; business; venture capital