InfoLogix To Be Acquired By Stanley Black & Decker For $61.2M
Stanley Black & Decker ("Stanley"), a diversified industrial company, and InfoLogix, Inc. a leading provider of enterprise mobility solutions for the healthcare and commercial industries, announced recently that they have entered into a definitive agreement under which InfoLogix will be acquired by Stanley for $4.75 per common share in cash. The total transaction value is approximately $61.2M, including the assumption of debt, of which approximately $22.1M is currently outstanding and a portion of which is convertible into shares of common stock of InfoLogix.
InfoLogix will add an established provider of mobile workstations and asset tracking solutions to Stanley's existing Healthcare Solutions growth platform. As part of Stanley Healthcare Solutions, InfoLogix's business will be well-positioned to extend its reach in healthcare and commercial markets by having access to the resources, brand equity and global supply chain of a S&P 500 company.
"The acquisition of InfoLogix is consistent with Stanley Black & Decker's portfolio diversification strategy and continues the expansion of one of our growth platforms, Stanley Healthcare Solutions," said Brian Kaner, CFO and COO of Stanley Convergent Security/Healthcare Solutions. "Offering strategic technology consulting services will enable Stanley Healthcare Solutions to assist clients in improving workflow, productivity and profitability through complete enterprise mobility solutions. With a strong leadership team and talented employee base, we plan to leverage InfoLogix's expertise in mobility solutions, clinical integration services, and mobile managed services in expanding our growing security and healthcare businesses."
"By combining InfoLogix's technologies, solutions and customer relationships together with Stanley's suite of healthcare products and services, intellectual property and global presence, we will be uniquely positioned in the healthcare and mobility marketplaces," said Dave Gulian, President and CEO of InfoLogix. "InfoLogix has enabled 2,200 healthcare and commercial organizations to make better decisions, mobilize their data investments, and manage their systems and supply chain. We look forward to joining with Stanley and driving accelerated growth while extending our services globally."
The transaction, which is subject to various closing conditions, including the filing with the Securities and Exchange Commission (SEC) of an Information Statement on Schedule 14C and the distribution of the Information Statement to all of InfoLogix's stockholders, is expected to close early in the first quarter of 2011. Please refer to InfoLogix's Current Report on Form 8-K filed with the SEC on December 15, 2010 or shortly thereafter, for information about the transaction.
About Stanley Black & Decker, Inc.
Stanley Black & Decker, an S&P 500 company, is a diversified global provider of hand tools, power tools and related accessories, mechanical access solutions and electronic security solutions, engineered fastening systems, infrastructure solutions and more. For more information, visit www.stanleyblackanddecker.com.
About InfoLogix, Inc.
InfoLogix is a leading provider of enterprise mobility and advanced wireless asset tracking solutions for the healthcare and commercial industries. InfoLogix uses the industry's most advanced technologies to increase the efficiency, accuracy, and transparency of complex business and clinical processes. With 19 issued patents, InfoLogix provides mobile managed solutions, on-demand software applications, mobile infrastructure products, and strategic consulting services to over 2,000 clients in North America including Kraft Foods, Merck and Company, General Electric, Kaiser Permanente, MultiCare Health System and Stanford School of Medicine. For more information, visit www.infologix.com.
SOURCE: Stanley Black & Decker & InfoLogix, Inc.