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Echelon Retires $21.4M of Long Term Facilities Lease Obligations with $10M Cash Payment

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SAN JOSE, Calif.--(BUSINESS WIRE)--Echelon Corporation (NASDAQ:ELON), a leading independent control networking company for the Industrial Internet of Things (IIoT), today announced that it has reached an agreement with the landlord of its 150,000 square foot San Jose, CA headquarters related to the long-term leases for office space the company no longer requires. Under the terms of the agreement, the existing leases, which run through 2020, have been terminated and replaced with a short-term le

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