April 7, 1987
The Morris Township, N.J.-based company said it will sell the electronics businesses for $479 million to Lanesborough Corp., a privately held chemical concern. Redwood City, Calif.-based Ampex Corp., makes audio-visual equipment, systems and magnetic tape for the broadcasting industry. The sale is expected to be closed by the end of May.
December 10, 1986
The Morris Township, N.J.-based company said it is selling off the units that comprise its electronics and instrumentation sector so that it can focus on its automotive, aerospace and engineered materials businesses. A spokesman said the company hopes to get about $1.5 billion by selling: Ampex Corp., Amphenol Products, Linotype Group and the Engineered Components Group businesses, including MPB Corp., Neptune International and Sigma Instrument.
June 19, 1997 |
Ampex Corp. lost an $8.1-million jury award after a federal judge ruled that Tokyo-based Mitsubishi Electric Corp. hadn't infringed a patent used to make a type of TV receiver. U.S. District Judge Roderick McKelvie ruled that Redwood City-based Ampex couldn't claim violation of a patent involving the ability to televise a second picture onto TV sets, because the electronics company had surrendered any rights to the technology at issue.
November 30, 2004 |
Sony Corp. agreed Monday to pay at least $40 million to Ampex Corp. to resolve a dispute over patents related to digital cameras, sending Ampex shares soaring 90%, their biggest one-day jump ever. Sony, the world's No. 2 consumer-electronics maker, will get a license to use Ampex technology through April 2006 and agreed to pay royalties thereafter for digital videotape recorders and digital still cameras that use Ampex inventions. Ampex, a Redwood City, Calif.
April 6, 1988
Xytronyx Inc., a San Diego biotechnology product development company, has appointed H. F. Nelson as vice president-finance. He was formerly with Ampex Corp. and its parent company, Signal Cos., where he served as treasurer and assistant treasurer respectively. He replaces John Freeman, who recently resigned to pursue his career with an insurance firm.