Advised Zebra (NASDAQ:ZBRA) on the sale of its Airport IT operations

Transaction Summary

Advised Zebra (NASDAQ:ZBRA) on the sale of its Airport IT operations – Proveo (Zebra Enterprise Solutions GmbH), to a private company which is part of the Aviance Alliance.

Transaction Highlights

• Strata advised Zebra Technologies Corp (NASDAQ: ZBRA, market value of approximately €2 billion) on the sale of its Airport IT operations, known as “Proveo”, to a private company which is part of the Aviance Alliance

• Strata Partners acted as exclusive financial adviser to Zebra to undertake a review of strategic options for the Proveo business, which it had acquired in July 2007 for a consideration of €11.5 million

• Based on Strata’s sector knowledge and carve-out experience, we ran a successful structured, competitive process for Zebra
  • Contacted a wide group of carefully selected potential buyers and/or investors
  • Ensured confidentiality of the process to avoid any operational disruption to the business
  • Assisted management in the preparation of pro-forma financial statements and forecasts
  • Coordinated due diligence and other advisers to the company

• No transaction value was disclosed

Company Profile

• Proveo is the leading supplier of integrated Real Time Locating Systems (RTLS) solutions (hardware, software and services) to ground handlers, airlines and airport operators, which allows the real-time visualisation and monitoring of Ground Support Equipment (GSE) and other equipment and vehicles. The company had a global customer footprint with 20 installations at leading airports (e.g. Abu Dhabi, Dubai, Heathrow, Munich, Singapore) and offices in Germany and the Middle East

• Zebra provides the broadest range of innovative technology solutions to identify, track, and manage the deployment of critical assets for improved business efficiency. Zebra serves more than 90 percent of Fortune 500 companies worldwide

• Zebra is headquartered in Chicago, USA, and reported revenues of $983 million in 2011