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 http://www.stanleyworks.com.
Contact: Greg Waybright - Interim VP, Investor Relations
(860) 827-3544
gwaybright@stanleyworks.com
SOURCE The Stanley Works
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Related links:
http://www.StanleyWorks.com
http://www.prnewswire.com/comp/874363.html/
CONTACT:
Greg Waybright, Interim VP, Investor
Relations, The Stanley Works, +1-860-827-3544,
gwaybright@stanleyworks.com
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