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3M Acquires Israeli People-Tracking Firm, Attenti

http://online.wsj.com/article/SB10001424052748703467004575463303704487586.html

›September 1, 2010
By MATT JARZEMSKY

Conglomerate 3M Co. agreed to acquire Attenti Holdings SA, an Israeli maker of people-tracking technology, from an investor group led by private-equity firm Francisco Partners.

The planned acquisition, valued at $230 million, is 3M's second high-tech-security deal this week [the other is the buyout of COGT: #msg-53865254].

Attenti makes remote monitoring technology to track people awaiting trial or on probation, as well as in elder-care facilities to improve patients' safety. Formerly known as Dmatek, it was acquired by the Francisco-led group in March 2009 for £52.9 million, or $81.8 million.

3M, based in St. Paul, Minn., said the acquisition would slightly increase earnings excluding deal-related costs in the first year after closing, expected in the fourth quarter. Attenti, with 340 employees, expects revenue of about $100 million this year.

The announcement comes at the end of a busy August for dealmaking, in which 3M already has been active. The industrial conglomerate, whose diverse products include Post-It notes, furnace filters and power lines, said Monday that it agreed to acquire Cogent Inc., a maker of fingerprint-identification systems, in a deal valued at $943 million.

3M has experienced stronger sales lately, partly fueled by new products and growth in emerging markets. In July, the company said second-quarter revenue rose 43% from a year earlier amid a rebound in demand [#msg-53136563].‹