Intermec expects $120m benefit out of this acquisition
Intermec, a developer of sofware for supply chain, has said that it has entered into a definitive agreement to acquire Vocollect, a provider of voice-centric offerings for mobile workers worldwide.
As per the agreement, Vocollect will be merged with a wholly-owned subsidiary of Intermec. Vocollect stockholders will receive an aggregate cash purchase price of $190m, subject to adjustment following closing.
Both companies’ Boards of Directors have unanimously approved the $190 million all-cash offer.
Vocollect will broaden Intermec’s applications and solution offerings in the warehouse workflow and enable to establish software-oriented offerings.
The acquisition is expected to extend Vocollect’s voice offerings into the rapidly growing markets served by Intermec and its channel partners.
The financial benefits that Intermec expects by acquiring Vocollect 2010 revenues will approximate to $120m. The company is expected to deliver double digit future revenue growth.
Intermec on completion of transaction is expected to generate annual of approximately $10m in 2011 fiscal year.
Intermec president and chief executive officer Patrick Byrne said this acquisition is a major step for Intermec in building a software-centric offerings business in the warehouse, the largest AIDC deployment environment.