Summit Partners acquired a majority stake in Elatec from DPE.

Summit Partners acquired a majority stake in Elatec, a leading global provider of multi-standard RFID readers, from DPE. Financial terms were not disclosed. DPE and its co-investors will retain a minority stake in the company. “Elatec’s multi-protocol solutions uniquely address a market need, supporting more than sixty different transmission standards and enabling the use of RFID applications across myriad end-markets,” said Dr. Matthias Allgaier , a Managing Director at Summit Partners who will join the Elatec Board of Directors. “We believe the company is well-positioned for continued, accelerated growth, bringing Elatec’s solutions to new customers, new verticals and new geographies.”