3M sells Israeli subsidiary to Apax for $200m

3M Photo: Bloomberg

The electronic monitoring business will be renamed Attenti, the name of the Israeli company that was acquired by 3M in 2010 for $230 million.

3M announced that it has completed the sale of its electronic monitoring business to funds advised by Apax Partners for $200 million. The business will be renamed Attenti, the name of the Israeli company which was acquired by 3M in 2010 for $230 million. 3M's electronic monitoring business provides electronic monitoring technologies, serving hundreds of correctional and law enforcement agencies to 34 countries. Annual sales of the business are approximately $95 million.

Attenti, originally called Dmatek, offers a full range of Global Positioning Systems (GPS), Radio Frequency (RF), alcohol verification monitoring and tracking solutions, supported by an integrated software monitoring platform.

Attenti has appointed former Radvision Ltd. (Nasdaq: RVSN; TASE: RVSN) CEO Boaz Raviv as its new CEO.

Published by Globes [online], Israel business news - www.globes-online.com - on October 10, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

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3M Photo: Bloomberg
3M Photo: Bloomberg
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