Waukesha-based Telkonet Inc. received a $12.8 million cash payment for the March 29 sale of the assets and certain liabilities of its EthoStream business.
Telkonet announced yesterday it had agreed to sell the assets and operations of its EthoStream LLC division to New York-based DCI Design Communications. The company revealed the sale price for the transaction in an SEC filing today.
The assets included certain EthoStream inventory, accounts receivable, prepaid expenses, tangible personal property, vehicles, contracts and work orders and intellectual property. The liabilities assumed by DCI include the obligations related to assigned contracts, accounts payable, accrued expenses and accrued paid time off for each transferred employee. It will not assume EthoStream’s debt. Read the full story here.