Stanley Works, New Britain, Conn., has acquired Towson, Md.-based Black & Decker in a stock-purchase deal valued at $4.5 billion. The deal represents a 22.1% premium to Black & Decker shareholders, who will receive 1.275 shares of Stanley for each of their Black & Decker shares. Stanley will own 50.5% of the new company. Stanley is a leading producer of hand and mechanical tools as well as pneumatic and hydraulic tools. In 2008 Stanley had sales of $4.43 billion, with 18,225 employees. Black & Decker, which is a leader in the power-tools market, had sales of $6.09 billion in 2008
The growing need to collect, store and analyze the huge volumes of data collected from infrastructure project stakeholders is generating a new growth area for construction-sector firms, IT vendors and professionals.