Amid rumors today that Cooper Controls acquired a majority share of Electronics Diversified, Inc. (EDI), Live Design has learned it’s only a rumor, but there is an agreement for distribution effective immediately.
Sam Heigle, chief executive of EDI, confirmed that Cooper Controls did, in fact, acquire some intellectual property from EDI and will become exclusive distributor for all EDI products. He said, however, there was no buyout or majority acquisition.