Arecont Vision, provider of IP-based megapixel camera and video surveillance solutions, announced the acquisition of its assets by Costar Technologies Inc. has been approved by the bankruptcy court. Arecont said in a press release it anticipates the sale will close on July 13, 2018.
As previously announced, Arecont Vision initiated proceedings under chapter 11 of the United States Bankruptcy Code in the District of Delaware in May, 2018 and has achieved its goal of moving through this process quickly.