Checkpoint Access now Sielox, gains new owner
THOROFARE, N.J.--Four months after announcing its intentions, public holding company L Q Corp. purchased Checkpoint Access Control Products Group from Checkpoint Systems in early January. The $2.5 million transaction provides L Q Corp. with its first business in the security industry and a platform from which to grow, said Bill Fox, L Q president and chief executice officer.
"This is going to be our primary business," Fox said.
Emphasizing that point, L Q Corp. also bought SES Resources International in early January, which works in corporate asset protection, forensic accounting and anti-money-laundering investigation.
L Q's access control company will now be called Sielox LLC, harking back to Checkpoint Access' original name before Checkpoint Systems bought it in 1986.
Fox anticipates cross-marketing opportunities between Sielox and SES Resources, enabling the access control company to extend its reach beyond its traditional retail customer base into hospitals, universities and pharmaceutical companies.
Sielox's foundation will continue to be its Pinnacle line of access control products and its network of 200 dealers.
According to Karen Evans, newly named president and general manager of Sielox, the rollout of new features to the Pinnacle software will happen faster under new ownership. Evans said the first addition will be the Sielox name on the Pinnacle product and the release of a graphics interface that will provide floor plans of a facility and the location of its security equipment.
Sielox is also hiring eight additional software engineers and dealer-support employees, increasing in size 33 percent beyond the current 25 employees.
"We have been a very small division in a very large company," she said. "We are going to become the company." Sielox will continue to operate out of Checkpoint Systems' headquarters while it looks for a new office in New Jersey.
Checkpoint Systems announced plans to divest of non-core businesses in a 10-Q filing with the Securities Exchange Commission in August 2005. It plans to focus on its electronic article surveillance and CCTV business.