SENTRY’S SALE TO DUTCH A&A PLACED ON HOLD; DETAILS DISCUSSED
Sentry Technology Corp. announces that the closing of the purchase of its common stock by Dutch A&A Holding B.V. has been postponed while the parties discuss various aspects of the closing and related financing. As previously announced, Dutch A&A is to invest an initial $3 million in newly issued common stock of Sentry and is to receive 37.5 percent of the company’s outstanding common stock, with the right to acquire additional shares during the two-year period following the closing, up to an aggregate holding of 60 percent of Sentry’s common stock then outstanding. Shareholders of Sentry had previously approved several charter amendments required as a condition to the Dutch A&A investment.
Dutch A&A is headquartered in the Netherlands and, through its subsidiaries, develops, manufactures and markets RFID, access control, RF/EM antishoplifting systems, security labels and software in 50 countries. Sentry Technology was formed in 1997 through the merger of Knogo North America Inc. and Video Sentry Corp. Through its subsidiaries, Sentry designs, manufactures, sells, installs and services a line of electronic article surveillance (EAS) and CCTV surveillance systems, including its patented traveling SentryVision(r) system. The company’s products are used by retailers to deter shoplifting and employee theft, and by commercial, manufacturing and governmental customers to protect people and assets.
If you enjoyed this article and want to receive more valuable industry content like this, click here to sign up for our FREE digital newsletters!
Security Is Our Business, Too
For professionals who recommend, buy and install all types of electronic security equipment, a free subscription to Security Sales & Integration is like having a consultant on call. You’ll find an ideal balance of technology and business coverage, with installation tips and techniques for products and updates on how to add sales to your bottom line.
A free subscription to the #1 resource for the residential and commercial security industry will prove to be invaluable. Subscribe today!