Audiotronics Sells Leda Unit Back to Its Founder
Audiotronics Corp. in North Hollywood, which bought Leda Corp. in 1987 from Leda’s founder and president, Joseph Tung, announced that it sold Leda back to Tung for an undisclosed amount in cash and notes.
Both companies make audio-visual products, particularly for use in education and training programs.
Audiotronics, which said it does not expect to report either a gain or loss on the Leda sale, said the agreement also calls for Leda to be an Audiotronics subcontractor for certain products over the next four years.
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