ComputerLand Corp has signed a letter of intent to acquire the Nynex Corp Nynex Business Centers US-wide for cash and preferred ComputerLand stock. ComputerLand would integrate the Nynex chain into its own network of company and franchised stores. Terms were not disclosed. Nynex, which has 77 stores in 30 states and the District of Columbia, wrote off $211m on the chain last December. Completion is set for June 1. Separately, privately held Computerland reported net profits for the year to September last of $6m after an $11.3m tax credit, against a loss last time of $34.1m on turnover that rose 14% to $424m.
