Italian firm eyes Everetts Intermec for takeover bid
An Italian firm may be considering a bid for the Everett maker of bar-code scanners and radio frequency ID tags.
Datalogic SpA is considering a bid for Intermec, an Italian weekly publication, Il Mondo, recently reported. Intermec makes barcode scanners, printers and radio frequency identification systems, which help companies track inventory and supplies.
Representatives for Intermec did not return repeated requests for comment.
This has been a challenging year for Intermec. The company reported a $242.1 million loss for the first quarter. And Patrick Byrne, Intermec's CEO, left the company.
In June, Intermec announced plans to cut 170 jobs, or 7 percent of its workforce worldwide. The layoffs could save Intermec between $7 million and $8 million in 2012 and $19 million to $21 million annually, the company reported in an regulatory filing.
Things began looking up again for Intermec in August. Just months after interim-CEO Allen Lauer stepped in, Intermec saw a 12 percent boost in second-quarter revenue.
Bologna, Italy-based Datalogic would need about $400 million for the takeover bid, which the government-controlled Italian Strategic Fund would fund, Reuters reported last week.
The 40-year-old Datalogic has two subsidiaries that are based in the United States. Datalogic ADC, which stands for Automatic Data Capture, is based in Eugene, Ore., and makes sales scanners for retailers as well as handheld and mobile scanners for customers including United Postal Service, BMW and Daimler. The second subsidiary, Informatics, which is based in Plano, Texas, produces inventory software, barcode printers and mobile computers.
Datalogic bought Minnesota-based PPT Vision in late 2011 and Pennsylvania-based Accu-Sort Systems in January. The company's 2012-14 business plan, released last month, emphasized Datalogic's goal of international expansion, noting in particular the North American market for growth.
Intermec's stock closed at $6.63 on Friday, up 1 cent for the day.
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