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Pinkerton's to Buy Sensormatic Sales Unit

May 10, 1997|Bloomberg News

Pinkerton's Inc. said it plans to buy the direct sales unit of Boca Raton, Fla.-based Sensormatic Electronics Corp. to beef up its marketing in the commercial security business. The commercial sales unit of Sensormatic, a manufacturer of retail and industrial security systems, has 425 employees and 1996 revenue of about $80 million. Terms were not disclosed. Encino-based Pinkerton's, which sells industrial security products and services, said the purchase will expand its client base, especially in California, the Southwest and Mid-Atlantic regions. Sensormatic also said it's licensing Pasadena-based Avery Dennison Corp. to make its Ultra-Max electronic anti-shoplifting tags. Sensormatic shares rose 37.5 cents to close at $16.25; Pinkerton's shares rose 25 cents to close at $27.875; and Avery Dennison shares lost 12.5 cents to close at $38.875. All trade on the NYSE.

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