Zebra Technologies Announces Divestiture of Navis for $190M

Zebra Technologies Corporation ZBRA today announced that it has entered into a definitive agreement to sell its Navis business to Cargotec Corporation CGCBV for approximately $190 million in cash. The transaction is expected to be completed during the first quarter of 2011, subject to regulatory approvals, customary closing conditions and working capital adjustments. Management estimates that the sale will result in an after-tax gain of $30-$40 million, which will be recorded in the period in which the transaction is completed.