Vocollect to be acquired by Intermec for $190 million in cash

Riverside Partners,, a Boston-based private equity firm, announced today that its portfolio company Vocollect, Inc. ("Vocollect") has entered into a definitive agreement to be acquired by Intermec, Inc. (NYSE: IN) ("Intermec") for US $190 M in cash. Vocollect is the world leader in voice solutions for workforce management of mobile workers. The sale includes Vocollect's Supply Chain and Healthcare Systems businesses. The transaction is subject to customary closing conditions and is expected to close later in Q1.

Vocollect's Supply Chain business was founded more than 20 years ago. The business provides voice applications for use across core supply chain functions, such as distribution centers and warehouses. Vocollect helps customers reduce costs, increase worker productivity and accuracy, and improve safety and worker satisfaction. Every day Vocollect Voice is used by over 300,000 workers worldwide to distribute more than $3 billion dollars' worth of goods to customer locations.

Vocollect's Healthcare Systems business, known in the market as AccuNurse, provides a voice-assisted care solution used for the management and documentation of daily patient care by skilled nursing facilities (SNFs). Organizations using AccuNurse benefit from reduced paper processing, lower operating costs, increased reimbursements and improved quality of care.

Joe Pajer, President and Chief Executive Officer for Vocollect, commented, "Our partnership with Riverside Partners was a key driver of this very significant milestone for Vocollect. My management team and I worked closely with Riverside Partners to augment our executive team, invest in international distribution and roll out several new product innovations across both the supply chain and healthcare businesses. We believe that, together with Intermec, we can continue to expand Vocollect's solutions to better meet the needs of our customers. Intermec's capabilities give us additional access to adjacent technologies and know-how, as well as additional supply chain customers worldwide."

Steven F. Kaplan, a general partner at Riverside Partners and a Vocollect board member said, "Since our investment in 2009, we have worked alongside Vocollect's founders and management team to drive enhanced growth and profitability. The sale follows a very successful year in which the Company experienced nearly 15% growth, added almost 230 new customers and introduced five new innovative products for the global distribution and warehouse markets. Sales are at an all-time high, as is customer satisfaction, and the new products are being very well received by the market. The business is on very solid footing and it has been an absolute delight working in partnership with Joe and his team. Intermec is getting a terrific company with outstanding people and technology."