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Technology / AI and automation

APPLIED CIRCUIT TECHNOLOGY SELLS RIGID DISK BUSINESS TO SHUGART

In a move that almost completes the company’s divestiture of its computer electronics operations, Applied Circuit Technology Inc, Anaheim, California, has sold its Systems Division, which manufactures rigid disk platters and rigid disk drive test equipment, to Shugart Corp. According to Applied Circuit chairman and chief executive Don Sweatman, the sale brought in more than expected and about three quarters of the price will be paid in cash, with the rest in notes; other terms were not disclosed. The company’s sole remaining computer operations are a peripherals repair unit, ACT Magnetic Technology, and Certel, a floppy disk certification equipment outfit. ACT plans to concentrate its efforts on its two pharmaceutical subsidiaries. Shugart will keep on all Systems Division personnel and continue to operate the unit under the ACT name. ACT is planning to change its name to reflect more closely its new core businesses.

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CBR Staff Writer

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