Mace Security International, completed the sale of Linkstar, the e-commerce division of its Digital Media Marketing Segment. The sale price for the transaction was US$1.1 million. Ten percent of the purchase price was placed into escrow, which funds will be released to the company in six months if there are no unsatisfied indemnity claims under the stock purchase agreement. The company netted cash of $950,000, excluding the $110,000 escrowed funds and closing costs.
“We are pleased that we were able to divest our Linkstar operation,” said Dennis Raefield, CEO and President of Mace. “The completion of this sale of non-core assets is one of the final steps towards our goal of becoming a security-focused company.”