The Israeli company AeroScout, which develops chips that use radio-frequency identification to track objects, animals and human beings through Wi-Fi networks, is about to be sold to an international infrastructure and services company for around $240 million. The buyer's identity is still under wraps.

Rehovot-based AeroScout was founded in 1999 and currently has about 200 employees. It has raised a total of around $70 million in financing up to now. It is thought that its R&D headquarters will remain in Israel after the sale.

Open gallery view Employees of AeroScout, which is based in Rehovot. The company has shown annual revenue growth of 25%. Credit: David Bachar

The company's revenues are increasing at an annual rate of 25%, and in 2011 exceeded $40 million. A number of venture capital funds - including Pitango Venture Capital, Greylock Partners, Menlo Ventures, Star Ventures and Evergreen - are expected to profit from the sale of AeroScout.

AeroScout products are used, in the hospital, to track patients as well as blood products such as organs; to manage and monitor equipment in universities; and to keep tabs on products throughout the manufacturing process, among other uses. The company's customers include Boeing, Freescale Semiconductor, Continental Tire and more than 500 hospitals around the world.

The New York Stock Exchange uses AeroScout chips to track all of its handheld e-broker devices on its New York trading floors.