Scansource to sell off certain businesses outside of the U.S., Canada and Brazil

Scansource Inc.

SCSC, +2.17%

said Tuesday it has started plans to sell certain businesses outside of the U.S., Canada and Brazil, as part of its efforts to align investments with higher growth and margin businesses. The company, provides point-of-sale, data capture and electronic physical security technologies, said the planned divestitures includes its non-digital distribution businesses in Europe, the U.K., Mexico, Columbia, Chile, Peru and the Miami-based export operations, with a combined net sales of $623 million for fiscal 2019. That represents 16% of the FactSet consensus of $3.91 billion. Scansource said it currently has 490 employees in the regions in which divestitures were planned. The stock, which is still inactive in premarket trading, has shed 7.4% year to date while the Dow Jones Industrial Average

DJIA, -0.28%

has advanced 12.0%

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