Vocollect, Inc. Agrees to be Acquired by Intermec, Inc.
PITTSBURGH (January 18, 2011) – Vocollect, Inc., the world leader in voice-centric solutions for mobile workers, today announced that it has entered into a definitive agreement to be acquired by Intermec, Inc. (NYSE:IN). The acquisition follows a record-breaking 2010.
Both companies’ Board of Directors have unanimously approved the US $190M cash offer. Upon completion of the transaction, Vocollect President and Chief Executive Officer Joe Pajer will lead the Intermec Voice Solutions Business and report to Intermec President and Chief Executive Officer Patrick Byrne.
Closing of the transaction is subject to regulatory approvals and is expected to occur in the first quarter of 2011.
Joe Pajer commented, “While we were not actively seeking to sell Vocollect, we carefully considered Intermec’s proposal. Intermec’s ability to give us additional access to adjacent technologies and know-how, as well as access to additional supply chain customers worldwide, made a compelling case for joining forces. I am very excited about the opportunity to accelerate our pursuit of the Vocollect vision of ‘millions of workers’ using Vocollect Voice worldwide as part of the Intermec family.”
“Intermec is very excited about its future with the addition of Vocollect to our portfolio,” stated Patrick Byrne, president and CEO of Intermec. “Voice is expected to continue to grow in the warehouse and distribution center arena and Vocollect, as a strong, global leader in the voice market, affords Intermec significant long-term growth opportunities.”
Intermec, Inc. is a global leader in the development and integration of services and technologies that track and manage supply chain assets and information. The company’s products and services are used by customers in many industries worldwide to improve the productivity, quality and responsiveness of business operations.
Strong 2010 Results
Vocollect also announced that it achieved revenues of nearly US$120M in 2010, representing top-line growth of nearly 15 percent. In addition, Vocollect’s supply chain business added almost 230 new customers, adding to the 200 new customers gained in 2009. The division also introduced a record of five newly-developed and innovative voice solutions for the global distribution center and warehouse market. Vocollect Healthcare Systems, a subsidiary of Vocollect, Inc., achieved similar gains on the healthcare side.
“The success of voice in both of our markets further indicates that voice is growing across workflows in both supply chain and healthcare, expanding globally, and cutting across industries. This growth and expansion of voice stems from the great value it brings in addressing the key business challenges present in those unique markets,” said Pajer.
Vocollect, Inc. is the leader in creating and providing voice-centric solutions for mobile workers in distribution and warehouse environments worldwide. The speech recognition software and extreme recognition accuracy of in-vocabulary speech helps customers achieve a higher level of business performance through voice. Every day over 300,000 workers worldwide use Vocollect’s comprehensive voice solutions to distribute more than $3 billion in goods from distribution centers and warehouses to customer locations. A global team of over 2,000 supply chain reseller and channel partner experts supports Vocollect Voice offerings. Vocollect VoiceWorld Suite integrates with all major WMS and ERP systems, including solutions from SAP AG, and supports the industry’s leading mobile computing devices. For more information, visit www.vocollect.com.
Vocollect®, Vocollect Voice® and Vocollect VoiceWorld Suite™ are trademarks of Vocollect, Inc. All rights reserved.