Datalogic, a company active in the manufacturing and transportation and logistics markets, signed yesterday the acquisition of Accu-Sort Systems and its associates, a leading US company in the Automatic Identification segment. The agreement will allow the company born in Bologna to double its presence in the Industrial Automation market.
The price agreed for the transaction is 135 million dollars but includes a tax benefit. The goodwill generated by the acquisition will be made tax deductible for the acquiring company (pursuant to section 338(h)(10) of the US Internal Revenue Code).
The closing is scheduled for the first quarter of 2012 and Datalogic has its own resources to finance the transaction, however negotiations are underway with various credit institutions for a medium-long term bridge loan of 120 million. The managing director Mauro Borse has expressed all his optimism for this operation which, he explains, "significantly improves Datalogic's competitive position in such a fragmented market".
The already solid foundations of this company, which had closed an excellent third quarter, are considerably strengthened with this purchase in line with the company strategy and, underlines the CEO Sabato, “Datalogic confirms a strong growth capacity even in particularly difficult market contexts”.
The financial advisor of the operation is Tamburi Investment Partners SpA, while the legal advisor is Dewey & LeBoeuf LLP.
