STD Holding Ltd., a video game accessories company that owns a 32-person distribution operation in Hunt Valley, has been sold for $21.5 million to Recoton Corp., a New York-based manufacturer and distributor of electronic equipment.
There will be no immediate change in the Hunt Valley operation, which designs, markets and distributes STD products, according to Peter M. Ildau, Recoton's vice president of communications.
"They've been doing a great job, let them keep doing it," he said.
However, he left the door open on possible future consolidation with Recoton's factory and warehouse in Orlando, Fla. "In time, we will take a look," Mr. Ildau said.
In the meantime, the Hunt Valley office has changed its name from STD to Interact -- one of the STD brand names, along with Performance.
STD, which was based in Hong Kong with a factory in China, made joysticks and other computer game accessories and had annual sales of about $40 million. Most of its 750 workers are in China and Hong Kong. The Hunt Valley office was its only U.S. operation.
Recoton, which had sales of $164 million last year, makes 3,300 kinds of electronic equipment, ranging from antennas to accessories for computers and cellular telephones. It has nine brand names, including Ambico, Ambersand, Discwasher and Parsec.
The purchase, which was completed on Tuesday, included $21.5 million in cash and $8 million in Recoton common stock. No debt financing was used, Mr. Ildau said.
Besides its Orlando operation, which does plastic molding and assembly, Recoton also owns a factory in China and contracts with foreign manufacturers, Mr. Ildau said. Of the company's 850 workers, about 90 percent are in the United States, he said.