Business
Video Display sells Z-Axis subsidiary
Tucker-based Video Display Corp.’s shares rose Thursday after the company said it will sell off part of its business in a mostly cash deal and eliminate some its debt.
Video Display manufactures and distributes cathode ray tubes used in TV sets and and computer monitors. The company said a year ago that it was looking for a buyer interested in the entire company or parts of it.
The company said it has a definitive agreement to sell its Z-Axis Inc. subsidiary to the unit’s New York-based management team. The sale also includes Video Display’s BEAR Power Supplies and Boundless Technologies business units. Financial terms were not disclosed.
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