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3M (NYSE: MMM), St. Paul, MN, has agreed to acquire Attenti Holdings S.A. from an investor group led by Francisco Partners for a purchase price of $230 million in cash. Based in Tel Aviv, Israel, Attenti is a leading supplier of remote people monitoring technologies used for a variety of offender monitoring applications, such as people awaiting trial or on probation; and to assist eldercare facilities in monitoring and enhancing the safety of patients.
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"This acquisition will position our track and trace business as a leader in the high growth electronic offender monitoring market and add Global Positioning System and active Radio Frequency technology and capability to our portfolio," said Rory Yanchek, general manager, 3M Track and Trace Solutions.
3M provides comprehensive track and trace solutions such as file tracking, library management, secure supply chain solutions and locating and marking for buried underground utilities.
Attenti sales for 2010 are expected to be approximately $100 million.