Edition:
United Kingdom

3M To Acquire M*Modal's Technology Business


Wednesday, 19 Dec 2018 

Dec 19 (Reuters) - 3M Co ::3M TO ACQUIRE M*MODAL’S TECHNOLOGY BUSINESS.3M CO - DEAL FOR ENTERPRISE VALUE OF $1.0 BILLION.3M CO - APPROXIMATELY 750 EMPLOYEES SUPPORTING TECHNOLOGY BUSINESS OF M*MODAL ARE EXPECTED TO JOIN 3M.3M CO - ON A GAAP REPORTED BASIS, 3M ESTIMATES ACQUISITION TO BE $0.10 DILUTIVE TO EARNINGS IN FIRST 12 MONTHS FOLLOWING COMPLETION.3M CO - WILL MAINTAIN A STRATEGIC BUSINESS RELATIONSHIP WITH M*MODAL'S REMAINING TRANSCRIPTION, SCRIBING AND CODING SERVICES BUSINESS.3M CO - APPROXIMATELY 750 EMPLOYEES SUPPORTING TECHNOLOGY BUSINESS OF M*MODAL ARE EXPECTED TO JOIN 3M UPON COMPLETION OF TRANSACTION.3M CO - ON A GAAP REPORTED BASIS, 3M ESTIMATES ACQUISITION TO BE $0.10 DILUTIVE TO EARNINGS IN FIRST 12 MONTHS.3M CO - EXCLUDING CERTAIN ITEMS, 3M ESTIMATES ACQUISITION TO BE NEUTRAL TO EARNINGS IN FIRST 12 MONTHS FOLLOWING COMPLETION.