Beam Robot Company Gets Bankruptcy Court Approval for Sale

Suitable Technologies Inc.'s Beam telepresence robot company really is worth just $400,000, even after five months of marketing and a Chapter 11 bankruptcy costing nearly $6 million.

Judge Mary Walrath of the U.S. Bankruptcy Court for the District of Delaware on Thursday approved the sale of substantially all of Suitable Technologies’ assets to Demark-based technology developer Blue Ocean Robotics ApS for $400,000, the very price that drove Suitable into bankruptcy in February.

Suitable sought a “transparent” sale process through the Chapter 11 process after Delaware’s Court of Chancery cast doubt on the legitimacy of Blue Ocean’s $400,000 offer for ...