Optronic Technologies, Inc., higher recognized to yard astronomers as Orion Telescopes & Binoculars, has introduced the acquisition of Meade Instruments following the approval of the United States Bankruptcy Court for the Central District of California.
Peter Moreo, President of Orion (and new President of Meade), states, “I am honored to have the opportunity to work with Meade employees, customers, and suppliers as the next phase of Meade’s corporate journey begins.”
For over 4 many years, Meade Instruments has been one of many world’s largest designers and producers of telescopes and equipment for beginner astronomers. The firm has labored carefully with independently owned and operated retailers that serve each informal and superior beginner astronomers.
In 2019 Orion Telescopes & Binoculars sued Meade, then a subsidiary of Chinese producer Ningbo Sunny Electronic Co. Ltd, in an antitrust lawsuit that included a number of different producers. The lawsuit discovered that Sunny colluded with different Chinese producers in a price-fixing scheme that shaped a monopoly over the home shopper telescope market. In December, 2019, Meade filed for Chapter 11 bankruptcy protection.
Meade Instruments has acquired all related emblems, and plans to proceed the event, manufacturing, and distribution of merchandise beneath the Meade model.
The firm plans to proceed delivering Meade-branded merchandise to approved retailers and suppliers. Additionally, Meade will proceed to honor its product warranties. In conjunction with approved sellers and distributors, Meade Instruments will make affordable efforts to supply buyer help, restore companies, and components for Meade merchandise that aren’t coated by guarantee.