YEHUD, Israel, Sept. 30, 2021 /PRNewswire/ -- Senstar
Technologies (NASDAQ: MAGS), a leading international
provider of comprehensive physical, video, and access control
security products and solutions, today announced that as of
September 30, 2021 its ordinary
shares will be traded under its new name: Senstar Technologies
Ltd., following the name change from Magal Security Systems,
Ltd.
In addition, the company also announced that its common stock
will begin trading under ticker symbol "SNT" on the Nasdaq Capital
Market at the opening of the market on September 30, 2021.
Dror Sharon, Chief Executive
Officer of Senstar, commented, "Rebranding under the Senstar name
conveys our strategic focus on operating as a pure
technology-driven, product and solutions company. The Senstar name
is widely recognized for innovative, reliable perimeter intrusion
detection systems (PIDS) and intelligent video management solutions
(VMS) with advanced video analytics and access control. We are now
singularly focused on business development initiatives that
reinforces that brand reputation and prioritizes investment in
leading-edge technology products to drive growth."
The Company implemented the name and ticker symbol change in
conjunction with the divestiture of its Integrated Solutions
Division as part of its strategic decision to focus primarily on
the Company's product division. The divestiture was completed on
June 30, 2021.
About Senstar
Senstar is a global leader in innovative perimeter intrusion
detection systems (PIDS) and intelligent video management (VMS)
with advanced video analytics and access control, offering a
comprehensive suite of innovative, intelligent, integrated security
technologies. Senstar offers a comprehensive suite of proven,
integrated technologies that reduce complexity, improve performance
and unify support. Senstar, which products are found in thousands
of sites including critical infrastructure, logistics, corrections
and energy, has been protecting high risk assets for more than 40
years. For more information, visit the Company's website at
www.senstar.com.
Forward Looking Statements
This press release contains forward-looking statements, which
are subject to risks and uncertainties. Such statements are based
on assumptions and expectations which may not be realized and are
inherently subject to risks and uncertainties, many of which cannot
be predicted with accuracy and some of which might not even be
anticipated. Future events and actual results, financial and
otherwise, may differ from the results discussed in the
forward-looking statements. A number of these risks and other
factors that might cause differences, some of which could be
material, along with additional discussion of forward-looking
statements, are set forth in the Company's Annual Report on Form
20-F filed with the Securities and Exchange Commission. In
addition, there is uncertainty about the impact of the spread of
the COVID19 virus and its effect on the Company's operations, the
demand for Company's products, global supply chains and economic
activity in general.
For more information:
Senstar Technologies Ltd.
Diane Hill
+972-3-539-1421
diane.hill@senstar.com
www.senstartechnologies.com
IR Contact:
Brett
Maas
Managing Partner
Hayden IR
+1 -646 -536 -7331
brett@haydenir.com
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SOURCE Senstar Technologies (legal name: Magal Security Systems
Ltd.)