Send to KindleUS company 3M Co has announced it is purchasing the Israeli human tracking devices producer Attenti Holding SA, which has industrial facilities in Bulgaria’s Plovdiv.
3M Co will be paying USD 230 M for the Isreali producer. Attenti Holding SA produces systems such as ankle bracelets for monitoring and tracking the movements of people who are awaiting trial or are on probation and those of patients in senior care centers.
Attenti Holdings was formally Dmatek Ltd., which was traded on the London Stock Exchange, before its acquisition in 2009 by Francisco Partners, Cavendish Asset Management, Sequoia Capital and CEO Yoav Reisman for USD 80 M, reported Israeli business site Globes.co.il.
Attenti’s acquisition by 3M is supposed to completed in the fourth quarter of 2010.
Attenti has 340 employees in Tel Aviv, at three sites in the US at Tampa, Milwaukee and Naperville in Illinois, and at Sydney, Australia, and Plovdiv in Bulgaria. The company estimates that its sales will reach USD 100 M in 2010.
3M's profit in 2010 Q2 went up 43% reaching USD1.1 B, while its revenue increase to USD 6.73 B, from USD 5.72 B a year earlier.
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