Checkpoint Systems sells US, Canada CheckView unit
THOROFARE, N.J. (AP) — Checkpoint Systems is selling its U.S. and Canadian CheckView business to an affiliate of private equity firm Platinum Equity.
Financial terms were not disclosed.
The transaction includes all continuing business operations and assets related to the U.S. and Canadian CheckView business. Checkview offers electronic security equipment like alarms and video monitors aimed at reducing merchandise theft.
Checkpoint Systems Inc. said that the sale followed a review by its board last year during which it decided that the U.S. and Canadian CheckView business would be able to better serve customers as an independent business.
The deal is expected to close by the end of April.
Checkpoint Systems provides services to retailers designed to help stem theft of their products, such as radio-frequency identification tags for merchandise. The company is based in Thorofare, N.J.
Shares of Checkpoint Systems closed Friday at $13.35, up more than 24 percent since the start of the year.