The planned sale of the Electro-Metrics business, which had been accounted for as a discontinued operation, was disclosed by the Company in February following its spin-off from Penril Datacomm Networks, Inc.
I would also like to commend the management of Electro-Metrics for all their hard work in completing this deal and I wish them great success.
Nasdaq: ACCB) announced today that it has entered into a definitive agreement to sell its wholly-owned subsidiary, Electro-Metrics, Inc.
business as well as the Electro-Metrics subsidiary.
The terms of the Electro-Metrics transaction include a payment of $2 million in cash upon closing, with the $2 million balance payable with interest pursuant to a payment schedule.