Aspeon Agrees to Sell 2 Units for $3.5 Million
- Share via
Struggling Aspeon Inc. said Tuesday it has tentatively agreed to sell its Boston food-service application service provider and Oracle business units for $3.5 million in cash to existing management.
The money-losing Irvine maker of point-of-sale computers for food and retail industries said in a news release that the transaction would help it curtail operating losses and build cash reserves.
Aspeon also said the sale of the units would help it concentrate on its point-of-sale products and services business. The Oracle unit consists of Restaurant Consulting Services Inc. and Monument Software Corp.
Earlier this month, the company’s stock was removed from the Nasdaq market for failing to meet listing standards. The company said it planned to appeal the decision by the Nasdaq Listing Qualifications Panel.
Aspeon stock gained 8 cents Tuesday to close at 50 cents a share in over-the-counter trading.
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.
