Coby Purchased by Gordon Brothers
Coby Electronics' trademarks, patents, intellectual property and materials have been purchased by Gordon Brothers Group, the company announced Wednesday. The purchase price was not disclosed.
Gordon Brothers said in the announcement that it plans to "infuse capital into the company in support of the development of new products and go-to-market strategies for Coby that will enable an expedited return of the company's various product lines to the marketplace."
Coby had announced a restructuring and layoffs in May.