3M Invests in Multi-Touch Interface Developer
Maplewood-based 3M Company continued its streak of investing and acquiring companies with Thursday's announcement that it has invested in Perceptive Pixel, Inc., a developer of advanced multi-touch solutions.
Financial terms of the transaction, which was completed through 3M's New Ventures business, were not disclosed.
Perceptive Pixel, which researches, develops, and produces multi-touch interfaces, is the second company that 3M has invested in this month. The company has also completed two acquisitions-Attenti Holdings and Arizant-and announced the acquisition of Alpha Beta Enterprise Company, Ltd.'s tape-related assets during October.
In addition, 3M announced plans in August to acquire Cogent, Inc., in a deal valued at $943 million. Cogent shareholders sought to block the proposed sale, but they were denied earlier this month by the Delaware Chancery Court.
Perceptive Pixel was founded in 2006 and is headquartered in New York City with offices in Washington, D.C.; Portland, Oregon; and Palo Alto, California. Its technologies will be combined with 3M's touch systems business unit.
“Perceptive Pixel is at the forefront of multi-touch, seen as cutting-edge pioneers with this revolutionary user interface,” Voyl Divljakovic, vice president and general manager of 3M's Electronic Solutions division, said in a statement. “Coupled with 3M touch systems' industry-leading single-touch, gesture-touch, and multi-touch screen solutions, we believe this partnership will change the way users interact with a variety of technologies in the years to come.”
3M-which provides technologies for the consumer, electronics, health care, industrial, and transportation markets-is among Minnesota's 10-largest public companies based on its 2008 revenue of $25.3 billion. The company reported revenue of $23.1 billion in 2009.