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HomeNewsArecont Vision to be Auctioned Between Turnspire and Costar Technologies

Arecont Vision to be Auctioned Between Turnspire and Costar Technologies

ARECONT Vision will be auctioned between Turnspire Capital Partners and Costar Technologies on July 9.

The auction was scheduled by a bankruptcy court with a hearing the following day to consider approval of the winning bid and confirm the results of the auction for Arecont’s assets, according to an SSI report.

Arecont Vision signed a $US10 million purchase agreement with a private equity firm in May and declared it would reorganize under Chapter 11 bankruptcy but the company then received a more lucrative offer from Costar Technologies.

Costar Technologies designs and manufactures a full range of products for the video surveillance and machine vision markets at facilities in China, South Korea and the U.S. and comprises 4 companies: CohuHD Costar, Costar Video Systems, Innotech and IVS Imaging.


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