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.
To read the full story, click here.
About 3M
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.
