News & Media
Visonic Sale of VT agreed
June 16 2008
Visonic Limited (“Visonic”) (LSE: VSC.L; TASE: VSC.TA), the international developer and manufacturer of electronic security systems (alarms) and home management systems, is pleased to announce it has signed a non-binding term sheet with an international company (the "Buyer"), for the sale of its Location Tracking Systems business, Visonic Technologies (“VT”).
On 12 March 2008 the Board announced the Annual Results for 2007 and reported that it would review the future of VT, whose activities fall outside Visonic’s core business of Security and Home Management. Having conducted that review, the Board considers that the said transaction represents the best option for the future development of both Visonic and VT.
