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3M to sell HighJump Software to Battery Ventures
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ST. PAUL, Minn. (AP) - 3M Co., the maker of Scotch tape, Post-it notes and other products, said Friday it will sell its HighJump Software business to technology venture-capital and private equity firm Battery Ventures.
Terms were not disclosed.
Software provider HighJump's products will continue to be sold and supported under its brand name after the transaction closes. The Eden Prairie, Minn.-based company has about 350 workers.
The acquisition is expected to close in the second quarter.
3M's stock dropped 71 cents to $76.24 in morning trading.
Copyright 2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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