3M to Acquire Attenti Holdings S.A.

3M announced it has entered into a definitive agreement to acquire Attenti Holdings S.A. from an investor group led by Francisco Partners, for a purchase price of $230 million in cash. Based in Tel Aviv, Israel, Attenti is a leading supplier of remote people monitoring technologies used for a variety of offender monitoring applications, such as people awaiting trial or on probation; and to assist eldercare facilities in monitoring and enhancing the safety of patients.

3M provides comprehensive track and trace solutions that deliver customer value by improving the safety, security and utilization of assets through applications such as file tracking, library management, secure supply chain solutions and locating and marking for buried underground utilities.

Attenti’s business partners are private and public organizations, monitoring service providers, security and telecommunications companies, as well as government agencies in over 25 countries around the world.

On a GAAP reported basis, 3M estimates the acquisition to be slightly dilutive to earnings in the first 12 months following completion of the transaction. Excluding purchase accounting adjustments and anticipated integration expenses, 3M estimates the acquisition to be slightly accretive to earnings over the same period.

Attenti employs approximately 340 people at its major operational locations in Tel Aviv, Israel; Tampa, Fla.; Naperville, Ill. and; Milwaukee, Wis., as well as in Plovdiv, Bulgaria; and Sydney, Australia. Sales for 2010 are expected to be approximately $100 million. The transaction is expected to be completed in the fourth quarter, subject to customary closing conditions and regulatory approvals.

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