SATO to acquire Checkpoint's Barcode Systems Businesses
06 Jan '06
4 min read
Barcode printer product line provider SATO and Data Collection (AIDC) industry announced a definitive agreement to purchase Checkpoint Systems' Bar Code Systems (BCS) businesses.
Under the agreement, SATO is acquiring Checkpoint's BCS businesses, with operations in North America, Asia Pacific and Europe, including its hand-held labeling solutions (HLS) in the United States. The transaction price will include approximately US$8.6 million in excess of net book value and total consideration for the business is expected to be approximately US$40 million, payable in cash.
The purchase price shall reflect adjustments made to the net tangible asset value upon finalisation of the closing balance sheet. The transaction is expected to be closed by January 30, 2006 , subject to local and legal requirements.
The transaction will allow Checkpoint to focus on its core businesses, while enabling SATO to immediately increase its presence and customer base in the BCS market, especially for consumables and services, in line with SATO's overseas business expansion strategy.
George Off, Chairman and Chief Executive Officer of Checkpoint, commented, “ Checkpoint is pleased to enter into this agreement with SATO, a company with a solid presence in the Bar Code Systems business. Our customers will benefit from SATO's commitment to excellence in its product offerings and services and our BCS employees will now have the opportunity to work for a company solely focused on long-term growth in the Bar Code Systems business."
"This transaction gives us the opportunity to now totally focus our resources on our growth businesses and create increased value for our customers and shareholders.”
marketing@alchempro.com
