Symbol Technologies Inc. will acquire Matrics Inc., which designs and
manufactures electronic product code (EPC)-compliant radio frequency
identification (RFID) systems, for $230 million. “The acquisition of
Matrics is a significant step in executing our plan to be a leader in RFID and
expands our offerings in the advanced data-capture industry,” said William
Nuti, Symbol’s president and chief executive officer. “By incorporating the
Matrics EPC-compliant RFID products into Symbol’s portfolio of industry-leading
mobile computing, advanced data capture and wireless technologies, Symbol can
help customers in key market segments gain operational efficiencies in their
supply chains and realize competitive advantage.” Matrics’ products,
including RFID readers and tags, are used to track inventory across the supply
chain, for compliance in regulated industries, to track airport baggage, and for
logistics purposes in the defense sector. Symbol said it will finance the
acquisition with short-term borrowings under a new credit facility. The company
expects the transaction to close in the third quarter of this year.
@Road Inc.
won’t buy MDSI Mobile Data Solutions Inc. after all. The cancellation of the
proposed acquisition, valued at about $86 million when it was announced in
April, was made public by the two companies last week. However, the two
companies have agreed to develop, market and sell each other’s products. @Road
sells mobile workforce management services; MDSI produces software to manage
workers in the field. @Road said it expects to take a $2.1 million charge for
the second quarter due to the cancellation of the merger. @Road’s stock fell
more than 3 percent on news of the termination, and MDSI stock fell more than 8
percent.
Alvarion Communications Ltd. entered an agreement to acquire
InterWave for approximately $56 million in an all-cash deal. InterWave makes
compact GSM and CDMA network equipment and services for low-density markets in
developing regions as well as vertical applications. Alvarion makes broadband
solutions, focusing mainly only WiMax technology. Alvarion said the buy expands
its market to a rapidly growing segment of the mobile equipment market.
