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May 8, 2012 10:14 am

Israeli Company AeroScout Sells for $240 Million

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Rehovot, Israel-based AeroScout will be sold to an international buyer for $240 million. The company manufactures chips that track objects, animals and human beings via radio frequencies on the Wi-Fi network.

In 2010, AeroScout made more than $40 million. Its chips are used to monitor products as they are being manufactured. The New York Stock Exchange also uses AeroScout chips to track its handheld e-broker devices on the trading floor.

Among others, companies using the chips include Boeing, Freescale Semiconductor, Continental Tire and more than 500 hospitals around the world, according to Haaretz.

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