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NEW YORK (AP) - Israeli security company Magal Security Systems Ltd. said Monday it sold its U.S.-based video monitoring business to video security specialists iVerify U.S. Inc. for $8.5 million.
| MAGS | 7.34 |  -0.23 |
Magal said it expects to record a gain of $2 million on the sale in its 2007 results.
Magal's video monitoring business, which is run by subsidiary Smart Interactive Systems Inc., analyses sensor and video camera information for possible intruders in industrial sites, businesses and homes.
Magal shares rose 15 cents, or 2.1 percent, to $7.18 in morning trading. They have traded in the last year between $6.75 and $12.
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