Zebra Technologies Corporation (Vernon Hills, Ill.) agreed to acquire all of the shares of WhereNet Corp. (Santa Clara, Calif.), a provider of active RFID-based wireless solutions to track and manage enterprise assets, for $126 million in cash. Expected to close by the end of January, the purchase is subject to WhereNet shareholder approval.
WhereNet provides wireless real-time locating systems (RTLS) to companies in manufacturing, transportation and logistics, and aerospace and defense sectors. Founded in 1997, it has more than 150 installations in operation.
"WhereNet adds another high-growth platform to Zebra's business," said Edward Kaplan, Zebra's chairman and CEO. "Active RFID is a natural complement to passive RFID and barcoding, two key Zebra strengths, as it enhances our ability to deliver business improvement solutions to customers worldwide.”
Zebra management expects WhereNet to generate sales of approximately $50 million in 2007, up from $36 million in 2006. Zebra will operate WhereNet as a separate business unit. It will be led by Dan Doles, the company’s current CEO.
