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© vladek dreamstime.com Business | October 04, 2017

3M sold Electronic Monitoring business

3M has completed the sale of its electronic monitoring business to funds advised by Apax Partners, a global private equity advisory firm.
The transaction is valued at approximately USD 200 million, net of cash sold and closing adjustments.

The electronic monitoring business is a provider of electronic monitoring technologies, serving hundreds of correctional and law enforcement agencies around the world. Annual sales of the business are approximately USD 95 million.

Approximately 265 3M employees who support the electronic monitoring business are expected to transfer in connection with the sale.

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October 16 2017 2:56 PM V8.8.6-1