Emerson Radio (MSN) Acquires Assets of Electronics Brand Olevia from Syntax-Brillian
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Emerson Radio Corp. (NYSE Alternext: MSN) has acquired the Olevia trademarks, licensing rights and intellectual property related to the brand from Syntax-Brillian Corp., which is currently operating under Chapter 11 of the U.S. Bankruptcy Code. The Company will assume the Olevia intellectual property assets free of any liabilities.
The Olevia brand is primarily known for its value line of high-definition, large format LCD televisions which were sold through mass merchant and regional retailers in key global markets including the U.S. and Asia. In 2007 sales of Olevia branded TV's reached $657 million globally and the brand ranked sixth in terms of market share in the U.S., according to The NPD Group. In 2008 sales in North America grew by approximately 16%.[SM]
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