Zebra Technologies to Acquire Navis
Acquisition enhances Zebra's ability to deliver asset tracking and location solutions; Company also announces acquisition of RTLS provider proveo
VERNON HILLS, Ill., Oct. 15 / -- Zebra Technologies Corporation (NASDAQ:ZBRA) today announced that it has agreed to acquire all of the shares of Navis Holdings, LLC, a global solutions provider for managing logistics, assets, inventories and cargo flows across the supply chain, for approximately $145 million in cash, subject to applicable post-closing adjustments. The transaction is expected to close during the fourth quarter of 2007 and is subject to expiration of the H-S-R waiting period and other customary closing conditions.
Headquartered in Oakland, CA, Navis provides solutions for marine terminals and other operations managing cargo in the supply chain. Founded in 1988, it was the first company to provide automated container terminal operating systems, which improve velocity and visibility of cargo movement through port and intermodal facilities. The Navis suite of products helps companies enhance productivity, efficiency and profitability by automating and integrating data input functions for real-time analysis and planning. These products unite various functions to streamline workflow and reduce overhead, administration and maintenance costs. Related services consist of product customization, installation, training, maintenance and global support. The company has a growing number of distribution centers using its yard management solution to track the movement of assets as well. Navis has more than 450 end user sites in operation in more than 50 countries.
In addition, Zebra announced that it extended its presence in the growing field of real-time location with the acquisition of all of the outstanding shares of proveo AG during the third quarter of 2007 for $16.3 million in cash. The acquisition builds on Zebra's acquisition of WhereNet Corporation in January 2007. WhereNet is a global provider of active radio frequency identification (RFID) based real-time location systems (RTLS).
"Navis is an excellent platform for Zebra to provide end-to-end solutions that help its customers identify, locate and track assets through the supply chain," stated Anders Gustafsson, Zebra's chief executive officer. "It complements the real-time location and GPS capabilities of WhereNet and proveo. Together, these companies give Zebra the ability to deliver more high-value applications to customers in transportation, distribution and logistics. Our ability to combine software systems with integrated real-time RFID, RTLS and GPS asset identification will position Zebra as a more valued strategic technology provider. They will help Zebra continue to move toward offering industry-specific applications in high-growth emerging industries."
"Our combination with Zebra Technologies will ensure that Navis continues to provide the highest levels of innovation and service our customers deserve and require," said John Dillon, CEO, Navis. "This transaction will allow us to continue our extensive maritime focus as well as all of our strategic market initiatives. As a part of Zebra, Navis will benefit from Zebra's financial strength, global reach, and engineering expertise."
Zebra commented that 2007 revenues from Navis are expected to be approximately $60 million.
proveo Acquisition
Headquartered in Crailsheim, Germany, proveo provides a complete hardware and software system addressing the real-time requirements of ground handlers within the airport. Currently deployed on airport ground support equipment (GSE), proveo solutions deliver cost savings by getting vehicles where they're needed, when they're needed, for more efficient asset management, increased safety and security, quality enhancement and reduction of environmental impact. Using primarily GPS location and GPRS and Wi-Fi communication technologies, the proveo system helps reduce investment and operating costs. proveo's real-time system is currently installed at airports in Frankfurt, Munich, London, Singapore and Dubai, among others.
"proveo adds to Zebra's real-time location business, with highly complementary products, technologies and markets," stated Phil Gerskovich, Zebra senior vice president for corporate development. "The company offers significant long-term growth opportunities in the deployment of automatic identification technologies for more effective GSE management to the more than 350 large and mid-sized airports around the world that operate a fleet of approximately 200,000 motorized vehicles."
Mr. Gerskovich continued, "proveo now has access to Zebra's broad technology portfolio to enhance its solution and deliver greater value to customers. At the same time, Zebra will be able to add proveo's product platform to its capabilities, including those in ISO 24730 active RFID/RTLS, to offer new and deeper solutions in locating and tracking mobile assets such as forklifts in a variety of manufacturing and logistics venues."
Source: Zebra Technologies Corporation
