International. Mace Security International, Inc. announced the sale of the assets and liabilities related to its IVS (Industrial Vision Source) division to Costar Video Systems, a wholly owned subsidiary of Sielox, Inc. The sale, which was completed on Oct. 21, included inventories, accounts receivable and payable, as well as related intangible assets, such as its customer list and trademarks.
IVS, which functioned as a division within the electronic security operation of the equipment company, Mace Security Products, Inc., is one of the distributors of high-end digital cameras as well as professional imaging components in the United States and has been in operation since 1989.
Michael Smith, CEO of Mace, said: "We are very pleased to announce the sale of this business. It allows us to continue our strategy of monetizing non-strategic assets and management that allows us to focus on our key security-related businesses."
According to VENTAS DE SEGURIDAD, IVS's sale price was approximately $517,000 paid at the close of the negotiation, plus an additional $100,000 payment if certain income levels are earned by its new owner, Costar Video Systems, within 90 days of the sale.
