(1888PressRelease)
October 20, 2006 - SALT LAKE CITY--(BUSINESS WIRE)--Aug. 31, 2006-- ClearOne Communications Inc. (OTC: CLRO.OB) today announced the sale of its document and educational camera product line to Ken-A-Vision Manufacturing Co. Inc., a privately held manufacturer of camera solutions for education, audio visual, research, and manufacturing applications.
"This transaction strengthens our balance sheet and allows us to focus our resources and energies on our core audio conferencing operations," said Zee Hakimoglu, ClearOne's president and chief executive officer. "Following a strategic review process, we determined that selling our document and educational camera product line to a company that specializes in this business was best for ClearOne and its future growth opportunities."
"We are delighted that we were able to come to an agreement on this transaction," said Steve Dunn, president of Ken-A-Vision. "For many years, Ken-A-Vision has offered some of the most advanced educational and document cameras available on the market and the acquisition of ClearOne's camera product line complements our existing product line and positions us to offer even greater choice and flexibility to our customers."
About Ken-A-Vision
For over 50 years, Ken-A-Vision Manufacturing has filled the world's classrooms with innovative, visual learning technology -- cameras, software microscopes, accessories and support that help students see more, do more and learn more. Based in Kansas City, Mo., Ken-A-Vision is the premier U.S. manufacturer of camera solutions and the world's leading, single-source supplier of real-world, real-time visual learning systems. Learn more by visiting Ken-A-Vision on the Web at www.kenavision.com.
About ClearOne
ClearOne is a communications solutions company that develops and sells audio conferencing systems and other related products for audio, video, and Web conferencing applications. The reliability, flexibility, and performance of ClearOne's comprehensive solutions create a natural communications environment, which saves organizations time and money by enabling more effective and efficient communication. For more information, visit ClearOne's Web site at www.clearone.com.
This release contains "forward-looking" statements that are based on present circumstances and on ClearOne's predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements, including statements regarding the company's ability to successfully commercialize newer products and enter new markets, are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements.
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