Cable wrap security device

1. A security device for placement about a merchandise item comprising:

a housing;

a first cable;

a second cable;

a spool within the housing which is rotatable about a vertical axis in a cable-tightening direction to wind the first cable and the second cable on the spool and is rotatable in an opposite cable-loosening direction to unwind the first cable and the second cable from the spool;

a locking mechanism for locking the spool so that the spool is not rotatable about the vertical axis in the cable loosening direction, the locking mechanism comprising an engaging member disposed within the housing, the engaging member being rotatable with the spool relative to the housing about the vertical axis and movable upwardly and downwardly relative to the spool between a locked position which prevents rotation of the spool in the cable-loosening direction and an unlocked position which allows rotation of the spool in the cable-loosening direction; and

a cable crossover device configured to be placed on a side of a merchandise item opposite the housing, wherein the cable crossover device further comprises:

a crossover body with the first cable slidably attached to the crossover body; and

a latch configured to he locked to the crossover body,

wherein the second cable is slidably attached to the latch, and wherein the latch is configured to be partially released from the crossover body when unlocked.

2. The security device of claim 1 , wherein the crossover body further comprises:

a chamber for receiving the latch.

3. The security device of claim 2 , wherein the crossover body further comprises:

a crossover lock device, wherein when the latch is substantially inserted into the chamber, the crossover lock device is configured to lock the crossover body to the latch.

4. The security device of claim 3 , wherein the crossover lock device is a magnetically actuated locking mechanism.

5. The security device of claim 3 , wherein the crossover body further comprises:

at least one metallic tine, wherein the at least one metallic tine is configured to at least partially snap into a recess formed on the latch when the latch is inserted into the chamber.

6. The security device of claim 1 , wherein the latch is configured to be partially released from the crossover body without full separation from the crossover body.

7. The security device of claim 1 , wherein the crossover body and latch are configured to be unlocked when a magnet is placed adjacent to the crossover body.

8. The security device of claim 1 , wherein the cable crossover device further comprises:

a locked latch position wherein the latch is fully inserted into the crossover body with the latch locked to the crossover body; and

an unlocked latch position wherein the latch is partially inserted into the crossover body.

9. The security device of claim 1 , further comprising:

an alarm system configured to generate an alarm when the first cable or the second cable is severed.

10. The security device of claim 1 , further comprising:

a top of the housing;

a bottom of the housing;

an opening formed in the bottom of the housing through which the vertical axis passes; and

a handle on the top of the housing for rotating the spool in the cable-tightening direction.

11. A security device for protecting an article of merchandise comprising:

a housing;

a spool disposed within the housing;

a crossover housing comprised of a crossover body and a latch that is slidably inserted inside the crossover body between a first latch locked position and a second latch unlocked position;

a cable attached to the spool and slidably passing, through the crossover device, wherein the housing is configured to be placed on one side of the article of merchandise and the crossover device is configured to be placed on an opposite side of the article of merchandise with the cable wrapped around the article of merchandise; and

an engaging member disposed within the housing, the engaging member being rotatable with the spool relative to the housing about a vertical axis and movable upwardly and downwardly relative to the spool between a locked position which prevents rotation of the spool in the cable-loosening direction and an unlocked position which allows rotation of the spool in the cable-loosening direction;

wherein when the latch is moved from the second latch unlocked position to the first latch locked position, the crossover device is configured to further tighten the cable about the article of merchandise.

12. The security device of claim 11 , wherein the crossover device further comprises:

a tab arm biased to lock the latch to the crossover body.

13. The security device of claim 12 , wherein the crossover body further comprises:

a chamber, and wherein the tab arm is configured to lock the latch to the crossover body after the latch has been slid into the chamber to the first latch locked position.

14. The security device of claim 12 , wherein the tab arm is a metallic tine.

15. The security device of claim 12 , wherein the tab arm is configured to be magnetically released from the latch to allow movement of the latch from the first latch locked position to the second latch unlocked position.

16. The security device of claim 11 , wherein when the latch is in the second latch unlocked position, the latch is not fully released from the crossover device.

17. A method of protecting a merchandise item comprising:

placing a housing on one side of a merchandise item, wherein a spool and an engaging member are disposed within the housing, the spool being attached to a cable and the engaging member being rotatable with the spool relative to the housing about a vertical axis and movable upwardly and downwardly relative to the spool between a locked position which prevents rotation of the spool in the cable-loosening direction and an unlocked position which allows rotation of the spool in the cable-loosening direction;

placing a crossover device including a latch and a crossover body on an opposite side of the merchandise item;

tightening a cable connected to the spool and passing through the crossover device to secure the housing and crossover device to the merchandise item; and

moving the latch from a first latch unlocked position to a second latch locked position to further tighten the cable around the merchandise item, wherein when the latch is in the first latch locked position the latch is not fully released from the crossover body.

18. The method of claim 17 further comprising: unlocking the crossover device and moving the latch from the first latch locked position to the second latch unlocked position.