Truvel Corp. Sold to Vidar in $1.3 Million Deal
- Share via
Truvel Corp., a Chatsworth company that had been operating under bankruptcy court protection, was acquired by Vidar Systems Corp. of Virginia for $1.3 million.
Truvel makes electronic scanning machines for storing and handling documents. Vidar is a unit of Yggdrasil AB, a Swedish conglomerate whose interests also include scanners.
Truvel went public in early 1988 and counted among its early investors Edward DeBartolo Jr., a member of one of America’s richest families. But last June 5, the company filed for reorganization under federal bankruptcy laws after it lost a major customer and ran dry of cash.
Vidar said it already had been providing management and capital to Truvel, with the bankruptcy court’s approval, before the acquisition.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
