3M Captures Attenti For $230 Million

Mercredi, 01 Septembre 2010 03:07

3M Captures Attenti For $230 Million

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Tel Aviv-based Attenti announced today its acquisition by 3M, most notably the makers of Post-Its, to the tune of $230 million in cash. Formerly Dmatek, Attenti is the world’s leading supplier of remote people-tracking technologies such as ankle bracelets, voice recognition devices and alcohol monitoring technologies.

The

purchase, which will benefit 3M by providing the company with GPS and radio frequency technology, is the second in a line of security-related acquisitions this week; 3M bought fingerprint ID company Cogent Inc yesterday for $943 million.

Yoav Reisman, Attenti CEO on the sale:

“3M’s culture of innovation fits well with our own and its R&D capabilities and global reach will help accelerate the growth of our business.”

Francisco Partners and the Israeli branch of Sequoia Capital jointly invested in Attenti in December of 2008, the sale represents a hefty exit for both.

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