Stanley Works, the Conn.-based power tool and construction equipment maker, has purchased Xmark Corp., a subsidiary of Verichip Corp., for $45 million in cash. Xmark, a Canadian company specializing in RFID products for tracking people and assets, will become a part of Stanley Works’ security segment, which develops physical security systems for buildings, airports and institutions.
Xmark has traditionally focused on three market segments: infant security under the Halo brand, wander protection systems for children under the Hugs brand and hospital and asset tracking systems under the RoamAlert brand. Stanley Works executives expect the deal will enable their company to offer a wider array of value-added products and services. Stanley Works’ security division currently offers products under the Stanley, Best, National, HSM and FatMax brands.