Peripheral subsystems integrator Anacomp Inc of Indianapolis, Indiana has set an enormous expansion of its business with agreement to acquire troubled Xidex Corp for $10 a share, over $400m in total. Anacomp will finance the offer through bank and other borrowings. Xidex Corp, which makes floppy disk media, microfilm and other disk drive and media products, ran into severe problems shortly after it acquired Control Data Corp’s Business Products retail disk media and supplies business, but is still around twice the size of Anacomp. In the nine months to March, it had sales of $467m but lost $74.5m after a $90.8m writedown. Anacomp did $22.8m net profit on turnover of $200.9m in the six months to March 31.
