Mace Security International Inc., Horsham, Pa., announced that it completed the sale of Linkstar Corporation, the e-commerce division of its Digital Media Marketing Segment, on Nov. 22, 2010. The sale price for the transaction was $1.1 million. Ten percent of the purchase price, or $110,000, was placed into escrow, which funds will be released to Mace in six months if there are no unsatisfied indemnity claims under the Stock Purchase Agreement. The company netted cash of $950,000, excluding the $110,000 escrowed funds and closing costs.
“We are pleased that we were able to divest our Linkstar operation,” said Dennis Raefield, chief executive officer and president of Mace. “The completion of this sale of non-core assets is one of the final steps towards our goal of becoming a security-focused company.”
“We are pleased that we were able to divest our Linkstar operation,” said Dennis Raefield, chief executive officer and president of Mace. “The completion of this sale of non-core assets is one of the final steps towards our goal of becoming a security-focused company.”
Michael Rosenberg of Northside Advisors, an independent investment bank for digital media and related technologies, represented Mace on this transaction.
Mace Security International Inc. is the manufacturer of personal defense and electronic surveillance products marketed under the famous brand name Mace®, and the owner and operator of a wholesale central monitoring station. Mace’s website is www.mace.com.
