Electronics Line 3000 announced that its largest shareholder, Argyle Global Opportunities, has sold its entire 40.77-percent interest in the company to the Risco Group.
"This was the right move for both the company and the 48 Argyle partners at this time, since the original Argyle partnership term of seven years had already expired and had been extended for only another year," said Bob Marbut, Co-Managing General Partner of Argyle. "We firmly believe that the company has a bright future under the leadership of the Risco team, and will benefit significantly from the many potential synergies that exist between Electronics Line and Risco. We have enjoyed our eight-year association with members of the Electronics Line team, and we wish them great success in the years ahead."
"We are very pleased with this move," said Moshe Alkelai, Risco Chairman and CEO. "Risco's intention is to maintain Electronics Line's independent operations and product offerings, and to grow it to become the residential arm of the group while expanding the product portfolio into video and management solutions together with Electronics Line's major partners worldwide."