Digital Trends
The purchase price, which is subject to a final adjustment based on the inventory and receivables at closing, was $6.2 million.
“We are pleased to finalize the sale of our GoVideo assets,†said Gregory Ballard, chief executive officer, SONICblue. “The GoVideo products and employees couldn’t have found a better home.â€
We believe that ReplayTV and Rio are the perfect complement to our existing product line,
Opta Systems submitted a final bid, which was approved by the Bankruptcy Court. The purchase price is subject to adjustment and the consummation of the transaction is subject to certain closingconditions. The Companies anticipate the transition of assets to be completed by mid-April.
As the former Chief Executive Officer of Sensory Science Corporation, I understand the true value of this business unit,†said Roger Hackett, Vice Chairman, Opta Systems. “I believe in the products and the GoVideo team and I am confident that together with management, we can leverage the tremendous growth in the digital video marketplace to achieve GoVideo’s full potential.
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