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Summary Box: 3M buying ankle bracelet maker

Tue, 08/31/2010 - 7:45am
The Associated Press

THE DEAL: Manufacturing conglomerate 3M Co. has agreed to pay $230 million in cash for an Israeli company that makes technology for tracking people's movements.

THE MOTIVE: 3M is increasingly stepping away from its Post-It and Scotch Tape roots in favor of technology that helps it grow faster. This is the second technology purchase in two days for the Maplewood, Minn., company.

THE GOODS: Ankle bracelets and other products from Attenti Holdings SA use GPS and radio technology to track people awaiting trial, those on probation and patients in senior care centers.

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