MERGERS AND ACQUISITIONS Navarre Corp., New Hope, has agreed to acquire SpeedFC Inc., a provider of e-commerce services to online retailers and manufacturers, for $50 million in cash and stock.
Ecolab Inc., St. Paul, has agreed to purchase Quimiproductos S.A. de C.V., a subsidiary of Fomento Econmico Mexicano, S.A.B. de C.V., a Mexican multinational company. Terms were not disclosed. With 2011 revenue of $35 million, Quimiproductos is a manufacturer and provider of cleaning, sanitizing and water treatment products and services to beverage customers in Mexico.
NEW BUSINESS Smiths Medical Inc., Vadnais Heights, a manufacturer of medication delivery and therapeutic products, has been awarded a contract from the U.S. Navy to equip the USNS Comfort medical treatment facility hospital ship with the company's Level 1 Hotline fluid warmer. Hotline fluid warmers are used during surgical procedures to warm cold intravenous fluids, including blood, helping to prevent patient hypothermia.
LEGAL MATTERS 3M Co., Maplewood, and Ivoclar Vivadent, Schaan, Liechtenstein, have settled a patent lawsuit in Germany involving a processed zirconia coloring technology. Ivoclar Vivadent will license the patented technology from 3M. The technology enables the coloring of unshaded zirconia by color-matching dental restorations to the natural color of patients' teeth.
