3M Buys Israei Tech Conglomerate Attenti

Tech conglomerate 3M has acquired Attenti, an international provider of remote monitoring technologies, for the price of $230 million in cash. The firm is part of an investor group led by Francisco Partners.

Attenti employs approximately 340 people at its most prominent locations in Tel Aviv, Israel. 3M believes this will expand 3M’s repertoire of track and trace solutions, while Attenti expects sales for 2010 to reach approximately $100 million.

The monitoring solutions of Attenti are used for those awaiting trial or probation, to assist eldercare facilities and to enhance the safety of patients. Business partners of Attenti include private and public organizations, monitoring service providers and security and telecommunication companies, along with government agencies in over 25 countries worldwide, according to Israel Science Technology.

"This acquisition will position our track and trace business as a leader in the high growth electronic offender monitoring market and add Global Positioning System (GPS) and active Radio Frequency (RF) technology and capability to our portfolio," Rory Yanchek, general manager, 3M Track and Trace Solutions, told Israel Science Technology. "The addition of Attenti's location tracking capability enhances the value we can deliver to our customers around the world."

The value 3M is attempting to deliver comes from 3M’s large repertoire of comprehensive trace and track solutions that improve the security, safety, and utilization of assets. This security is attained through applications including: file tracking, library management, secure supply chain solutions and locating and marking for buried underground devices.