Wireless Applications

Zebra Technologies Acquires WhereNet Corp.

January 17, 2007

The acquisition adds WhereNet's active RFID-based wireless real-time location capabilities to Zebra Technologies existing specialty printing, bar code, and RFID portfolio.

VERNON HILLS, IL, ARCwire Industry News)--Zebra Technologies Corp. announced that it has agreed to acquire all of the shares of WhereNet Corp., a leading global provider of active radio frequency identification (RFID) based wireless solutions to track and manage enterprise assets, for $126 million in cash. The transaction is expected to close by the end of January and is subject to WhereNet shareholder approval and expiration of the H-S-R waiting period on January 13, 2007. Zebra has voting agreements from WhereNet shareholders representing more than 85% of the voting stock to vote in favor of the transaction.

Headquartered in Santa Clara, CA, WhereNet provides integrated wireless Real Time Locating Systems (RTLS) to companies primarily in the industrial manufacturing, transportation and logistics, and aerospace and defense sectors. Founded in 1997, it has more than 150 installations currently in operation helping companies locate and track high value assets with wireless tags, fixed-position antennas and Web-enabled software.

WhereNet solutions are used to increase the accuracy, velocity, efficiency, and security of time-critical processes throughout the supply chain. They are employed in parts replenishment, vehicle inventory tracking, truck yard management, marine cargo tracking, and work-in-process tracking, among many other applications. WhereNet's solutions span hardware, middleware, application software, and services for project management, maintenance and support.

Zebra management expects WhereNet to generate sales of approximately $50 million in 2007, up from $36 million in 2006. The acquisition is expected to be minimally dilutive to Zebra's net income in 2007 and be accretive thereafter. Zebra will operate WhereNet as a separate business unit.

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