Mace to become pure-play security firm?
It's been well documented how Mace would like to rid itself of the car wash business (and they're getting pretty close). Now comes word they're exploring selling off their digital marketing business, which sells things like beauty products online:
Mace Security International, Inc. ("Mace", â€œCorporationâ€ or the â€œCompanyâ€) (NASDAQ Global:MACE) today announced that it has retained Northside Advisors LLC, a boutique investment banking firm, to explore the sale of the Companyâ€™s Digital Media Marketing Segment. The Companyâ€™s Digital Media Marketing Segment is an e-commerce and online marketing business which has two operating divisions: (1) e-commerce, the sale of products on internet promotional sites, and (2) online marketing, which publishes internet promotional sites that offer the Companyâ€™s and third party products for sale. The segment uses proprietary technologies and software to sell products on the internet. Dennis Raefield, the Companyâ€™s Chief Executive Officer stated that â€œthe Company has not made a decision to sell the Digital Media Marketing Segment but is exploring the possibility of a sale dependent on the level of interest and offers the Company receives. If Mace sells the Digital Media Marketing Segment, it will use the funds in the operation of and to grow its Security Segment. We are committed to executing our strategy of focusing on our core security business and building a company for future growth.â€Also, if you're looking for signs the economy is back on track, the fact that companies like Mace, L1, Pro One, etc., are exploring sales opportunities should tell you that corporate America thinks there's money that wants to be thrown around right now. That's a good thing.