Tuesday, February 3, 2009

Ultreo Assets Go On Auction Block

The assets of Redmond, Washington-based Ultreo, are on the auction block, according to auctioneer Cowan Alexander LLC, as the firm's creditors, Silicon Valley Bank and Oxford Finance Corporation, look to liquidate the firm's assets. Ultreo--which said in December that it would be shutting down the company--was a maker of ultrasonic toothbrushes, based on technology out of the University of Washington. According to a statement to customers in December, Ultreo shut down no parties were interested in either investing or acquiring the firm; the company said the company and its board of directors talked with "an extensive number" of potential investors and buyers before being forced to cease operations. Among the remains of Ultreo being sold are its welding stations, electronic test instruments, and a complete maintenance shop and forklift--not to mention the employee lounge.