But the social network’s advertising revenue grew 18.4% during the quarter.
Checkpoint Systems Inc., a manufacturer and marketer of identification, tracking, security and merchandising systems for retailers, will acquire OATSystems Inc. which provides radio frequency identification-based software and middleware.
Checkpoint Systems Inc., a manufacturer and marketer of identification, tracking, security and merchandising systems for retailers, will acquire OATSystems Inc., which provides radio frequency identification-based software and middleware applications. The cash transaction is expected to close in the next two weeks at which time financial details will be disclosed.
OATSystems senior executives will remain with the company, including president and CEO Michael George, and OATSystems will operate as a division of Checkpoint. Checkpoint will continue to develop the OATSystems brand and software to serve retail, consumer products and industrial customers.
OATSystems offers retailers technology that translates data from RFID hardware into inventory information to help keep track of product availability. The two companies’ offerings of merchandise protection and inventory management systems complement one another, Checkpoint says, and the acquisition will strengthen both firms’ presence in the retail market.
"The addition of OATSystems provides Checkpoint with multiple avenues for expansion into higher growth markets as cross-selling opportunities are leveraged. We acted quickly and decisively on the acquisition of this industry recognized market leader," says Rob van der Merwe, president and CEO of Checkpoint. "The transaction is consistent with our plans for growing revenue both organically and through acquisitions."
OATSystems has more than 100 international retail, consumer packaged goods, consumer electronics, manufacturing, life sciences, aerospace and defense clients. Checkpoint has deployed more than one million RFID devices in stores and has 3,900 employees worldwide.