Andrea Electronics division sale
Andrea Electronics Corp. announced that it has entered into an agreement to sell its aircraft communications products division to a private investor group
Andrea Electronics Corp. announced that it has entered into an agreement to sell its aircraft communications products division to a private investor group for $3.25 million, subject to net receivables and inventory adjustments as of the balance sheet closing date.
According the company’s press release, “the aircraft communications products division is engaged in the manufacture and sale of intercommunications systems and amplifiers primarily used on legacy military aircraft.” Last year, this unit generated roughly $3.3 million in revenue.
Tags: content