Thursday, March 18, 2010
Electro Rent Acquires Electronic Test Equipment Firm
Van Nuy-based Electro Rent, a firm which provides rental, leasing, and sales of electronic test equipment, said Thursday that it has won a bid to acquire the assets of Telogy, LLC, a bankrupt provider of electronic test equipment. Electro Rent said it would pay $26.7M in cash for Telogy, adjusted based on changes in Telogy's net accounts receivable, equipment purchases and equipment sales since September 30, 2009. Telogy provides test equipment to aerospace and defense, wireless communications and computer and semiconductor manufacturing companies, and was based in Union City, California.