KB13@TE.CC.CMU.EDU (Ken Burner) (03/03/88)
From Electronic News, Monday, Feb 29: (Mobile, Ala.) Quality
Micro Systems (QMS) Inc. has agreed to purchase Imagen Corp. in a
stock deal valued at approximately $17 million.
Under terms of the deal, QMS would acquire the privately-
held Santa Clara, Calif.-based image processing company for
1,850,000 shares of its common stock.
The transaction is subject to execution of a definitive
agreement, approval by the shareholders of both companies and
satisfaction of routine SEC requirements. It is expected to be
completed in early May. At that time Imagen would be operated
as a wholly-owned subsidiary.
Imagen vice president of sales and marketing, Franklin J.
Lassman, said there are no executive changes planned and he does
not forsee any layoffs.
...
-Ken Burner
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