A Boston area high-tech pioneer is closing down.

Transitron Electronic, founded in the 1950s, was one of the first companies on Route 128, now a rival of California’s Silicon Valley area for concentration of electronics firms. At its peak it employed 1,600, but failed ventures in semiconductors and transistors weakened the firm. It expects to wind up business in 10 days with the sale of its Gilbert Engineering unit in a leveraged buyout.