Sato Acquires Bar Codes From Check Point
Sato International Pte. Ltd. said it has reached an agreement to acquire the bar code–systems business of Redwood City, Calif.–based Check Point Software Technologies Ltd. for about $40 million.
Under the agreement, Sato will acquire Check Point’s bar-code systems in North America, Asia and Europe. It will also acquire Check Point’s handheld labeling solutions in the United States. The deal is expected to close by the end of the month.
The transaction will allow Check Point to focus on its core businesses, which are security systems for online and other financial transactions. Sato, based in Singapore, markets bar-code printer systems including RFID (radio frequency identification) technologies.
Said George Off, chairman and chief executive officer of Check Point: “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.”
Added Sato President Masanori Otsuka in a statement: “The acquisition will not only bring complementary product lines, but also give Sato the opportunity to gain a foothold in markets that it has not fully explored so far.” —Robert McAllister
