Shareholders of Bak USA has agreed to a "management buyout" according to a statement released to 7 Eyewitness News Friday afternoon. They will continue to operate.
Read the full statement here:
Our shareholders convened earlier today and reached an agreement in principle for a management buyout of Bak USA. Bak USA will continue to operate as a social enterprise building computers in Buffalo. These are all the details we are sharing at this time. We will issue a formal announcement in the future once the deal is finalized
The tablet maker, Bak USA, opened their headquarters January of 2015 in Buffalo. Paychex founder and former Buffalo Sabres owner, Tom Golisano, held 50% stake in the company as of May 2015.
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