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Symbol of Things to Come?
Symbol Technologies, vendor of wireless network and data systems, announced today its acquisition of Covigo, a specialist in development tools for wireless applications.
Symbol (NYSE: SBL), with 2002 sales of about $1.2 billion, said the purchase is part of its plan to develop systems that allow customers to better manage their various mobile computing assets.
While the deal is small (Covigo employs only about 15), it is noteworthy in its confirmation of rising demand for wireless data solutions, specifically in the convergence of GPS, RFID, bar code scanning, PDA, laptop and cell phone functions.
As these wireless data technologies and the companies developing them mature, we anticipate substantial sector sales and follow-on M&A activity.
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