Zebra to acquire WhereNet for $126M |
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Published
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Fri, 12 Jan 2007 00:34
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VERNON HILLS, Ill. (AFX) - Zebra Technologies Corp., which makes bar code printers, said Thursday it agreed to acquire privately held WhereNet Corp., a maker of radio frequency identification products, for $126 million in cash.Zebra said it expects the deal to close by the end of January. The company said it expects WhereNet to bring in about $50 million in sales in 2007, up from $36 million in 2006. Zebra expects the acquisition to minimally reduce net income in 2007, and to increase profit thereafter.The company said it will operate WhereNet as a separate business unit.'Active RFID is a natural complement to passive RFID and barcoding, two key Zebra strengths,' said Edward Kaplan, Zebra's chairman and chief executive officer, in a statement.WhereNet is based in Santa Clara, Calif., and makes systems that help mainly industrial manufacturing, transportation and logistics, and aerospace and defense companies track inventory and other assets.Shares of Zebra fell 7 cents to close at $34.44 on the Nasdaq.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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