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Completes sale of its Navis business to Cargotec Corporation
March 21, 2011
By: DAVID SAVASTANO
Zebra Technologies Corporation announced that it has completed the sale of its Navis business to Cargotec Corporation for approximately $190 million in cash, subject to a working capital adjustment. As previously reported, management estimates that the sale will result in an after-tax gain of $30-$40 million, which will be recorded in first quarter of 2011. The sale transfers Zebra’s Navis worldwide terminal operating system (TOS) business and the WhereNet Marine Terminal Solution product line, which comprised a small part of Zebra’s 2007 acquisition of WhereNet. All other elements of WhereNet, such as real time location solutions, tags and readers, remain with Zebra.
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