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.
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 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 provider of active radio frequency identification (RFID) based real-time location systems (RTLS).
Anders Gustafsson, CEO of Zebra, stated: 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. 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.
John Dillon, CEO of Navis, said: Our combination with Zebra Technologies will ensure that Navis continues to provide the highest levels of innovation and service our customers deserve and require. 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.
