3M, looking to expand its monitoring technologies, announced that is has entered into an agreement 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 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. Attenti’s sales are expected to approach $100 million in 2010 and has a strong international presence with locations in Israel, the United States, Bulgaria and Australia.
“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 (GPS) and active Radio Frequency (RF) technology and capability to our portfolio,” said Rory Yanchek, general manager, 3M Track and Trace Solutions. “The addition of Attenti’s location tracking capability enhances the value we can deliver to our customers around the world.”
