Ada Native Jeff Thompson announced recently that EDGE Tech Corp has sold significant assets to Avant Technology, Inc. as of Jan. 2012.
Thompson said the decision was because of recent “price declines and sluggish demand” in the Dynamic random-access memory (DRAM) industry.
He said the decision to sell is the result of a year-long attempt to partner with another company in order to compete with larger businesses in the DRAM market.
“After a long, on-again, off-again process, what resulted is the sale to Avant,” Thompson said. “I am confident that the expertise and momentum Avant provides will allow EDGE to compete at a new level in the very near future — a real positive for those team members continuing on with the new owners.”
Thompson said this decision regrettably resulted in the closing of the Ada operations facility although a small EDGE Tech office will remain in Ada with 10 employees.
Thompson began his enterprise as a 14-year-old Ada boy buying and selling computer parts in a Dallas newspaper.
“I had no idea that my hobby would develop into a real business, providing hundreds of jobs over the years,” he said.
Montin Auction Company will be auctioning some of EDGE Tech Corp’s Ada operations facility’s assets Saturday, Jan. 28, at 10 a.m. at 1310 North Hills Center.
As for Thompson’s future plans, he says he has no specific ideas at the moment.
“I need to go ‘sit on a rock’ for some time — no idea how long — and decide what’s next,” he said.
He said he’s fairly certain he won’t be involved in selling products with rapidly fluctuating prices.
“Been there, done that!”