Checkpoint Systems, Inc. (Thorofare, N.J.), announced that it has completed the sale of its bar code systems businesses to SATO, a global provider of barcode printing, labeling, and EPC/RFID solutions. Price of the sale is reported to be $37 million in cash, plus the assumption by SATO of $5 million in liabilities.
Late last year, the Company announced it had reached a definitive agreement with SATO to acquire Checkpoint's barcode businesses around the world, as well as hand-held labeling solutions in the United States. The final purchase price is subject to certain post-close adjustments relating to net operating assets.
William Blair & Company acted as financial advisor to Checkpoint in connection with the transaction.
Source: SATO International