Back in 2005, there was a new company named Brijot that came on very strong. I remember talking to them and they were incredibly bullish, to the point where they wouldn't consider dealers unless you hard committed to millions in sales and even then, the dealer discounts were trivial. This was back when airport security was especially hot. Here's their marketing video if that refreshes your memory:
They seemed to fade away. Today, I did a search for them and found they were acquired in 2011 by Microsemi. The announcement had the ominous phrase 'acquired the technology .... and assets' which typically means the company was a dud and was being bought for pennies on the dollar.
Digging through Microsemi's 2011 financials shows that they paid just $3.1 million, a very low price for a company selling products that cost hundreds of thousands per unit.
Does anyone know the details of what went wrong? Was there product problems? Was it just hype that eventually popped?