Computer Corp of America of Cambridge, Massachusetts. and Crowntek International UK – the trading name of Computer Corp here – have now reached agreement for a management buy-out from mutual parent, Toronto-based Crownx Inc, and will operate from now on as a single company under the well respected CCA name. Under the terms of the buy-out, Crownx will maintain a 30% stake in the unified company, with the remaing 70% issued as founders shares amongst all current employees, while Crowntek International managing director, Peter Junker, will also take on the position of vice-president of sales and marketing worldwide. The company, which claims that no outside sources were tapped for buy-out funds, indicated yesterday that it plans to go public within the next two to three years. Also announced yesterday was the Release 1 Version 2 of the flagship Model 204 database management system, which boasts a 13 transactions per second per MIPS rate of the IBM processor, and will be available in the fourth quarter.
COMPUTER CORP OF AMERICA WINS MANAGEMENT BUYOUT
