Checkpoint Systems announced the company's intention to sell its U.S. and Canadian video and intrusion business, CheckView. Following an extensive review of Checkpoint's portfolio in 2012, the company board determined that CheckView will better serve its customers as an independent, entrepreneurial and more focused organization.
An investment banker has been engaged to assist in the sale and discussions are taking place with a potential buyer interested in leveraging the expertise, customer relationships, retail monitoring center and other assets residing in CheckView in a stand-alone platform.
Checkpoint will continue to pursue its redefined strategy to provide solutions that improve merchandise availability in retail stores. This planned divestiture is expected to enable focused attention and investment in both the CheckView business and Checkpoint's core businesses. Checkpoint is committed to support CheckView throughout the sale process and the CheckView team is committed to ensure an orderly transition with full continuity of service to customers.
The U.S. and Canadian CheckView business will be reported as discontinued operations in Checkpoint's fourth quarter and full-year 2012 earnings report released on March 5, 2013, prior to the company's scheduled earnings conference call and in the 2012 form 10-K.