- 3M Acquires Federal Signal Technologies Group
June 22, 2012 — 3M has acquired Federal Signal Corp.'s technology division, Federal Signal Technologies Group (FSTech), for US$110 million in cash.
Oakbrook, IL-based FSTech provides electronic toll collection and parking management hardware and software services. 3M expects the acquisition to reduce its profits by $0.02 per share in the first 12 months after the deal close, reports Bloomberg Businessweek. Excluding one-time items related to the deal, 3M anticipates the acquisition to be earnings neutral over the same period.
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With global sales of US$25 billion, 3M is a leading producer of thousands of products ranging from chemicals, filtration systems, and safety and protection equipment to office, graphics, and health care equipment. For more information, visit www.3m.com.
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