NEW BRITAIN, Conn., July 18 CT-The-Stanley-Works
NEW BRITAIN, Conn., July 18 /PRNewswire-FirstCall/ -- The Stanley Works
(NYSE: SWK) announced today that it has completed its previously announced
purchase of Sonitrol Corporation from an ownership group comprised of Carlyle
Venture Partners, Wachovia Capital Partners and Spire Capital Partners as well
as selected members of Sonitrol management for $276 million cash. Sonitrol,
headquartered in Berwyn, PA, provides security monitoring services, access
control and fire detection systems to commercial customers in North America
via two monitoring centers and a national multi-channel distribution network.
The company also announced that it has completed its previously announced
purchase of Xmark Corporation, a wholly-owned subsidiary of VeriChip
Corporation (Nasdaq: CHIP) for $48 million cash, which consists of the $45
million agreed purchase price plus a balance sheet adjustment of approximately
$3 million (a portion of which reflects the net cash position of Xmark as of
the closing). Xmark, whose headquarters and principal operations are located
in Ottawa, Canada develops, markets and sells RFID-based systems used to
identify, locate and protect people and assets.
Additional Information About The Stanley Works
The Stanley Works, an S&P 500 company with 2007 revenues of $4.5 billion,
is a diversified worldwide supplier of tools and engineered solutions for
professional, industrial, construction and do-it-yourself use, and access
security solutions for commercial applications. Additional information about
The Stanley Works, including corporate press releases, can be found at
www.stanleyworks.com.
Contact: Greg Waybright - Interim VP, Investor Relations
(860) 827-3544
gwaybright@stanleyworks.com
SOURCE The Stanley Works
