Los Angeles Securities Group, Santa Ana, Calfornia has a letter of intent to buy all the shares of Above Software Inc, a software developer based in Santa Ana, California which until last week was called Teleware West. After the transaction, Above holders will end up with 65% of the expanded equity of Los Angeles Securities. The deal will raise $800,000 to fund Above’s operations, $400,000 from the Los Angeles outfit, $400,000 from a group of three individuals headed by Douglas Baker who collectively call themselves Funding Consultants, who will end up with 18%. Teleware West had been developing microcomputer software for three years now, but felt things had been going so well for the company that a change of name was warranted. It says it has exceeded sales projections, expanded facilities, broadened its product base and shortened the time line for meeting certain long-term corporate objectives, and is discussing bundling agreements and cooperative development ventures with major hardware manufacturers and analysing end-user product needs on a non-stop basis now. On the way are an enhanced 3.0 release of its IBM-bundled AboveDisk expanded memory emulator and several new products, including an MS-DOS memory management system to give an 80286-based micro many of the characteristics of an 80386 machine.
