Kubota Ltd, the diversified Osaka, Japan company that has become a 20% shareholder in MIPS Computer Inc, has also signed to acquire Akashic Memories Corp, a privately-held major Santa Clara, California supplier of sputtered thin-film media for the Winchester disk drive market. Terms of the agreement were not disclosed. The Akashic acquisition – for 100% ownership – is in fact third such move made by Kubota – as well as its 20% of MIPS, it invested $20m in Allen Michels’ Dana Computer Inc, Sunnyvale. Formed in April 1982, Akashic will be operated as a wholly owned subsidiary of Kubota USA. Its major customers include Control Data Corp, Micropolis Corp and Maxtor Corp. Kubota Ltd is a major manufacturer of farm equipment, pipe, industrial equipment and housing materials. With revenues of $5,000m in fiscal 1987, the company is expanding its product base by investing or acquiring technology that can benefit from its strong management skills and worldwide marketing networks. The agreement, which is subject to Akashic stockholder approval and to Kubota board approval, is set to be completed by early December 1987.
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