EMRISE Sells Assets of RO Associates to
Astrodyne Corporation
Company Remains Committed to Eliminating Term Debt
March 23, 2010 12:47 PM Eastern Daylight Time
EATONTOWN, N.J.--(EON: Enhanced Online News)--EMRISE CORPORATION (NYSE Arca:ERI) , a multi-
national manufacturer of defense, aerospace and industrial electronic devices and communications equipment, today
announced that it has sold substantially all the assets of the San Jose, CA-based RO Associates Incorporated
subsidiary of EMRISE Electronics Corporation, a subsidiary of EMRISE, to Astrodyne Corporation for
approximately $1 million in cash plus the assumption of certain liabilities. Astrodyne, a leading provider of power
conversion solutions worldwide, is headquartered in Mansfield, MA. Pennsylvania based Boenning & Scattergood,
Inc. supported EMRISE as financial advisors in relation to the transaction.
Upon closing, EMRISE received net proceeds of approximately $600,000 after fees and other costs related to the
transaction. The proceeds will be used by the Company for working capital purposes. The purchase price is subject
to an upward or downward working capital adjustment within 90 days of the date of closing. Further details of the
transaction will be disclosed in a Form 8-K to be filed with the Securities and Exchange Commission.
EMRISE Chairman and Chief Executive Officer Carmine T. Oliva said that completing this transaction will help
strengthen EMRISE’s working capital, will reduce its operating costs, will improve its bottom line going forward and
it will free EMRISE management, with the support of Boenning & Scattergood, Inc., to focus on additional strategic
initiatives designed to eliminate its term debt.
“The sale of RO associates is the fourth sale that we have successfully completed in a little more than 18 months,”
Oliva added. “With the sale of these four businesses, we believe we have demonstrated our commitment and ability
to take the steps necessary to eliminate our term debt and to focus our business in