Gentner Communications Corp. has purchased the assets of ClearOne, Inc., of Woburn, Mass., a privately held developer and manufacturer of multimedia group communications products.
Gentner purchased the assets on July 5 for approximately $3.7 million, composed of $1.7 million in cash and 129,872 shares of restricted Gentner stock, the company said. The assets purchased included approximately $300,000 of ClearOne's inventory.
Through the transaction, Gentner gains the rights to in-process research and development on a video conferencing system.