Intermec Inc. has completed its previously announced acquisition of Vocollect, Inc., a vendor of voice-driven technology for mobile workers. Vocollect will operate as a business unit of Intermec, with headquarters remaining in Pittsburgh, Penn. The all-cash purchase price was $150m, plus $57m in adjustments. The transaction was funded with $97m from Intermec's $100m secured revolving credit facility, along with $100m from its balance sheet. The company said it expects to realize approximately $10m in additional revenue from Vocollect in the first quarter of this year. Intermec manufactures products that identify, track and manage supply-chain assets and information. Its offerings include rugged mobile computing and data-collection systems, barcode printers, label media and radio frequency identification technology.
Read Full Article
Enjoy curated articles directly to your inbox.