My old family founded company, Densitron is about to be bought by a group of former employees through their new company Quixant see here: http://goo.gl/BSzC7a
It was a company founded by my Father in the UK, a Mr Degawa in Japan and Mr Luskin in the USA. The group took the Japanese companies name Densitron (which extrapolates to mean land of the rising electron) merged together in 1986 and floated on the UK stock market later that year.
It’s about time! Since the hostile takeover in 2002, Densitron has floundered on the rocks, lurching year upon year with losses, shored up by the sale of assets including operating divisions and land.
The acquirer, Quixant, is not an obvious match, although it was a company born out of Densitron. Yet Densitron still has a global sales operation (of sorts) and Quixant should benefit from access to that.
Quixant’s products are computer boards customised for the gaming industry (Las Vegas etc). Whereas Densitron is still selling LCD technology as it did 40+ years ago. Perhaps Densitron’s trading network can adapt to the new products and generate growth for the new company.
Densitron’s shareholders will receive a modest return after years of support (I am still a very minor shareholder), while the Densitron board and its employees will have some of the old guard back who actually understand how to run the company. The displays business should now be able to rapidly evolve and metamorphose.
I look forward to hearing some of the success stories going forward, I might even take an investment in the new organisation.
Good luck chaps….