Intermec to acquire Vocollect

Jan. 19, 2011
Intermec Inc (NYSE: IN) has entered into a definitive agreement under which it will acquire Vocollect Inc, a provider of voice-centric systems for mobile workers worldwide.

Intermec Inc (NYSE: IN) has entered into a definitive agreement under which it will acquire Vocollect Inc, a provider of voice-centric systems for mobile workers worldwide. Vocollect is privately held by Riverside Partners, a Boston MA-based private equity firm and private investors. Both companies’ boards of directors have unanimously approved the $190 million all-cash offer.

With more than 1,500 customers and 300,000 users globally, Vocollect will broaden Intermec’s applications and offerings in the warehouse workflow and help to establish a leading position in software-oriented systems. The acquisition will also extend Vocollect’s voice systems into the rapidly growing markets served by Intermec and its channel partners.

Upon completion of the transaction, Joe Pajer will lead the Intermec Voice Solutions business and report to Patrick Byrne, Intermec’s president and chief executive officer.

Under the agreement, Vocollect will be merged with a wholly owned subsidiary of Intermec. Vocollect stockholders will receive an aggregate cash purchase price of $190 million, subject to adjustment after closing. Completion of the transaction, which is expected in the first quarter of 2011, is subject to expiration or termination of the applicable Hart-Scott-Rodino waiting periods, and other regulatory and customary conditions as provided in the merger agreement.

Goldman Sachs acted as exclusive financial advisor to Intermec in connection with this transaction.

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!

Sponsored Recommendations

Waiting for a breakdown is costing you. Learn how smart preventive maintenance plans, accurate data, and cross-team coordination can protect your bottom line and boost profits...
Is your fleet ready for California's Clean Truck Check program? Our guide helps you navigate CARB compliance, avoid costly fines, and keep your trucks rolling. Learn how telematics...
Boost truck leasing profits with telematics insights! Reduce maintenance costs, improve uptime, and strengthen customer relationships. Learn how data drives success.
This free guide outlines simple steps for hiring and onboarding commercial drivers while ensuring that you meet Regulation Part 391 and maintain fully compliant driver qualification...