Retail services provider Checkpoint Systems (NYSE:CKP) is selling its U.S. and Canadian CheckView business -- which sells anti-shoplifting and anti-theft systems such as video monitors and alarm systems -- to private-equity firm Platinum Equity, the company announced Monday.
Checkpoint conducted an "extensive review" of its businesses in 2012 and is now in the process of divesting the businesses it has decided it no longer wants. The company noted in a statement that it continues to sell "electronic article surveillance systems" as well as other "services to combat theft, radio frequency identification products to improve inventory accuracy, and tickets, tags, and labels for merchandising apparel." But apparently, video monitors and alarms didn't make the cut.
The sales price was not disclosed, but Checkpoint did note that it expects the sale to close by the end of April.
CheckPoint shares gained 0.8% in Monday trading, closing at $13.45.
Fool contributor Rich Smith and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.