Checkpoint Systems, Inc. (CKP) on Monday said that it has acquired SIDEP, a provider of Radio Frequency (RF) Electronic Article Surveillance (EAS) products.
SIDEP is an established supplier of EAS systems and employs more than 140 people with the majority located in China. SIDEP will help Checkpoint increase market penetration in emerging Asian markets, especially in China.
In addition, SIDEP is the majority owner of Shanghai Asialco Electronics Co., a China based manufacturer of RF-EAS labels. Upon closing the acquisition of SIDEP, Checkpoint also acquired the remaining interest in Asialco from its minority shareholders. With facilities in Shanghai, China, Asialco will significantly increase Checkpoint's label manufacturing capacity to help meet the growing demand in emerging Asian markets. Asialco employs more than 200 people.
Combined, the transactions have a total value of approximately $37 million. The acquisitions are expected to add approximately $20 million of annual revenue and be neutral to Checkpoint's earnings in 2008.
For comments and feedback: editorial@rttnews.com