Thursday, January 11, 2007

WhereNet Acquired By Zebra Technologies

Illinois-based Zebra Technologies said Thursday evening that it has agreed to acquire Santa Clara-based WhereNet, a provider of wireless location systems for the industrial manufacturing, transportation, and logistics industry. The deal is worth $126M in cash. The deal is expected to close in January. WhereNet's products are used to help companies track and locate high value assets. Zebra Technologies said that WhereNet had revenues of $36M in 2006, and is expected to have sales of approximately $50M in 2007. WhereNet is backed by Bay Partners, Crescendo Ventures, Crosspoint, Foundation Capital, and Invesco.