MINNETONKA, Minn., Oct. 12, 2011 /PRNewswire/ -- Electro-Sensors, Inc. (Nasdaq: ELSE) (the "Company") announced today that the Company has sold its AutoData Systems Division to Auto Data Inc., a new corporation owned by a group of investors who intend to add personnel and resources in order to further grow the business. Presently, the AutoData Systems business develops and distributes desktop software for designing scannable forms, such as customer satisfaction surveys and automated data collection using scanners for forms processing. Electro-Sensors, Inc. will receive a 3% revenue earnout from AutoData Inc. for a period of 5 years. The transaction will also allow the Company to focus on its core markets. Electro-Sensors, Inc. manufactures and distributes electronic instruments used to monitor shaft speeds, bearing temperature, belt misalignment, and position in industrial applications and also offers complete hazard monitoring systems for agricultural processing facilities.SOURCE Electro-Sensors, Inc.
Electro-Sensors, Inc. Announces Sale Of The AutoData System Division
Check Out Our Best Services for Investors
Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts