YEHUD, Israel, April 26, 2021
/PRNewswire/ -- Magal Security Systems, Ltd. (Nasdaq: MAGS), a
leading international provider of comprehensive physical, video and
access control security products and solutions, as well as critical
site management, announced that earlier today it filed its annual
report containing audited consolidated financial statements for the
year ended December 31, 2020 with the
U.S. Securities and Exchange Commission.
Please note that certain of the unaudited financial numbers
included in our earnings release dated April
6, 2021 have been updated in the annual report to reflect
certain audit adjustments.
The annual report is available on the Company's website
(www.magalsecurity.com). Shareholders may receive a hard copy
of the annual report free of charge upon request.
About Magal Security Systems, LTD.
Magal is a leading
international provider of comprehensive physical, video and access
control security products and solutions, as well as site
management. Over the past 45 years, Magal has delivered its
products as well as tailor–made security solutions and turnkey
projects to hundreds of satisfied customers in over 100 countries –
under some of the most challenging conditions. Magal offers
comprehensive integrated solutions for critical sites, managed by
Fortis X – our new generation, cutting–edge physical security
information management system (PSIM). The solutions leverage our
broad portfolio of home–grown PIDS (Perimeter Intrusion Detection
Systems), Symphony – our advanced VMS (Video Management Software)
with native IVA (Intelligent Video Analytics) security
solutions.
On 7 February 2021, Magal entered
into an asset purchase agreement to sell its Integrated Solutions
Division, or projects division, to Aeronautics Ltd., a subsidiary
of RAFAEL Advanced Defense Systems Ltd., for approximately
$35 million. The transaction is
expected to be completed by the end of the second quarter of 2021,
and is subject to customary closing conditions, including
regulatory approvals.
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SOURCE Magal Security Systems, Ltd.