EMS Technologies Inc., an Atlanta-based firm that sells equipment enabling wireless communication and tracking, has agreed to be purchased by Honeywell International Inc. for $491 million in cash.
The agreement calls for a yet unnamed subsidiary of Honeywell, a global manufacturing and technology firm, to purchase all outstanding EMS shares for $33 each. That’s 10 percent above the closing price for EMS shares on June 10.
EMS had sales of $355.2 million in 2010. The company makes devices used in various forms of wireless communication, including satellite, Bluetooth, Wi-Fi, GSM and GPS mapping.
Honeywell was enticed by EMS’s rugged mobile computing offerings, including handheld and vehicle-mounted devices, as well as its antennas, terminals and other devices that drive satellite communications.
The EMS board has postponed its annual shareholders meeting scheduled for June 30. The company operates in 12 countries.
Visit www.ems-t.com for more information.
