Stanley Works Completes Sonitrol and Xmark Acquisitions
19 7월 2008 - 5:05AM
PR Newswire (US)
NEW BRITAIN, Conn., July 18 /PRNewswire-FirstCall/ -- The Stanley
Works (NYSE:SWK) announced today that it has completed its
previously announced purchase of Sonitrol Corporation from an
ownership group comprised of Carlyle Venture Partners, Wachovia
Capital Partners and Spire Capital Partners as well as selected
members of Sonitrol management for $276 million cash. Sonitrol,
headquartered in Berwyn, PA, provides security monitoring services,
access control and fire detection systems to commercial customers
in North America via two monitoring centers and a national
multi-channel distribution network. The company also announced that
it has completed its previously announced purchase of Xmark
Corporation, a wholly-owned subsidiary of VeriChip Corporation
(NASDAQ:CHIP) for $48 million cash, which consists of the $45
million agreed purchase price plus a balance sheet adjustment of
approximately $3 million (a portion of which reflects the net cash
position of Xmark as of the closing). Xmark, whose headquarters and
principal operations are located in Ottawa, Canada develops,
markets and sells RFID-based systems used to identify, locate and
protect people and assets. Additional Information About The Stanley
Works The Stanley Works, an S&P 500 company with 2007 revenues
of $4.5 billion, is a diversified worldwide supplier of tools and
engineered solutions for professional, industrial, construction and
do-it-yourself use, and access security solutions for commercial
applications. Additional information about The Stanley Works,
including corporate press releases, can be found at
http://www.stanleyworks.com/. Contact: Greg Waybright - Interim VP,
Investor Relations (860) 827-3544 DATASOURCE: The Stanley Works
CONTACT: Greg Waybright, Interim VP, Investor Relations, The
Stanley Works, +1-860-827-3544, Web site:
http://www.stanleyworks.com/ Company News On-Call:
http://www.prnewswire.com/comp/874363.html
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