Friday, March 20, 2009

EMRISE Sells Division

Rancho Cucamonga-based EMRISE, a manufacturer of defense and aerospace electronics, said Friday that it has sold "substantially all" of the assets of the firm's Digitran Switch Division. The deal was worth $12M in cash. EMRISE said it sold the division to Massachusetts-based Electro Switch Corp. The deal included all of the assets of Digitran, plus all of the capital stock of XCEL Japan Ltd., the sales office for Digitran. EMRISE said the move is part of an effort to divest non-core businesses at the firm.