Survival of the fittest.Troubled telescope maker Celestron of Torrance agreed to be acquired last week by Taiwanese partner Synta Technology Corp., ending any chance of a merger with Irvine competitor Meade Instruments
Meade Instruments Corporation (aka Meade) is a company based in Irvine, California, that manufactures and imports telescopes, binoculars, spotting scopes, microscopes, CCD cameras and telescope . The deal marks the beginning of the end for telescope manufacturing in California. Both Meade and Celestron have struggled to compete against the lower labor costs enjoyed by Taiwanese competitors and have been hindered by plunging revenues and expensive litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. . Celestron still designs its computerized telescopes in the U.S., but it long ago outsourced its manufacturing to Taiwan, where Synta is a big supplier. The company will continue to be led by its senior management team and for now, its operations will remain in Torrance. Joseph Lupica, Celestron's chief executive, declined to disclose the purchase price but noted that "each existing owner is getting a return on their original investment." The company was highly leveraged, but it did attract five bidders, said Celestron Marketing Manager Jennifer Adams Jennifer Adams (born 1976 in Eltham, Victoria) is an Australian television presenter. After studying at Perth's Curtin University with a degree in journalism, Adams joined the Seven Network in 1997. She later became Seven's weekend newsreader. . For years, Meade and Celestron were adversaries in court, squaring off in a number of patent infringement patent infringement n. the manufacture and/or use of an invention or improvement for which someone else owns a patent issued by the government, without obtaining permission of the owner of the patent by contract, license or waiver. cases. Meade had sought to acquire Celestron but was blocked by the Federal Trade Commission over antitrust Antitrust The antitrust laws apply to virtually all industries and to every level of business, including manufacturing, transportation, distribution, and marketing. They prohibit a variety of practices that restrain trade. concerns. |
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