Versarien has completed the sale of its South Korean factory and equipment for more than £600,000. The agreement with MCK Tech was announced last March as part of a strategy to monetize intellectual property (IP) through licensing. The transaction was meant to complete last July, but was delayed after MCK Tech asked for an extension to the deadline.
Versarien has now received the final payment of £92,000, plus accrued interest. In total, Versarien has received £611,000 after a £6,000 warranty deduction from MCK Tech for its Korean plant and equipment.
Versarien has completed the sale of its South Korean factory and equipment for more than £600,000. The agreement with MCK Tech was announced last March as part of a strategy to monetize intellectual property (IP) through licensing. The transaction was meant to complete last July, but was delayed after MCK Tech asked for an extension to the deadline.
Versarien has now received the final payment of £92,000, plus accrued interest. In total, Versarien has received £611,000 after a £6,000 warranty deduction from MCK Tech for its Korean plant and equipment.
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