Digital Angel bought
$31M stock deal puts South St. Paul-based ID-chip maker under largest shareholder’s wing
BY LESLIE BROOKS SUZUKAMO
Digital Angel, a South St. Paul company that makes tracking technology for such things as animals and airplanes, will be acquired by its largest shareholder in an all-stock deal expected to close by the end of this year.
Applied Digital, a Delray Beach, Fla., company that develops radio-frequency identification, or RFID, implants for livestock, pets and people, owns 55 percent of Digital Angel and will absorb the remainder, said Applied Digital CEO Michael Krawitz on Thursday.
Digital Angel shareholders will get 1.4 shares of common stock of Applied Digital for every share of Digital Angel stock they own. Based on the closing price of Applied Digital’s stock Wednesday, the deal is worth about $30.7 million.