Zebra Technologies sheds Navis unit

By Ameet Sachdev
Posted Jan. 31 at 9:45 a.m.

Lincolnshire-based firm Zebra Technologies Corp. said Monday it has reached an agreement to sell its Navis unit to Finland’s Cargotec Corp. for $190 million in cash.

The sale will result in an after-tax gain of $30 million to $40 million, Zebra management said. The transaction is expected to close in the first quarter.

The deal will allow Zebra to have a sharper focus on its bar-code technologies that allow customers to efficiently track their assets, the company said.

Navis, based in Oakland, makes software for the cargo-handling companies that operate at ports and other marine terminals. Navis’ annual sales are expected to be about $70 million this year, according to Cargotec.

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