3M Picks Up $110M Tolling Unit From Federal Signal

Law360, New York (June 21, 2012, 9:20 PM EDT) -- Federal Signal Corp. plans to sell its transportation and electronic tolling unit, Federal Signal Technologies LLC, to 3M Co. for $110 million in cash, the companies announced Thursday.

The deal, subject to regulatory approval, is expected to close in the second half of the year, Minnesota-based 3M said. FSTech's hardware and software products are used in electronic tolling, parking and access control, law enforcement, and applications such as electronic vehicle registration, according to Federal Signal.

“Electronic tolling and parking are key adjacencies to 3M’s offering for...
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