Assets of Ailing Plexus Computer Are Sold

SANTA CLARA, Calif. — Recognition Equipment Inc. has purchased the assets of Plexus Computer Inc. for about $3.8 million and will create a new subsidiary called Plexus Software Inc.

“I’m happy we were able to deliver the assets to REI,” said James Lindstrom, chief financial officer of Plexus. “If it hadn’t happened, there would be no jobs for anyone and no assets to be distributed.”

Plexus in March laid off 150 of its 200 workers and filed for protection under Chapter 11 of the U.S. Bankruptcy Code.

Plans for repayment of creditors must still be taken care of before the old company ceases to exist.

Lindstrom said REI also loaned Plexus about $500,000 for operating expenses.