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Technology / AI and automation

CPT CORP LEAPS AT CHANCE TO ACQUIRE COMPETITOR AES

Office automation systems specialist CPT Corp of Minneapolis has moved in quickly to register its interest following Canada Development Corp’s announcement that it wanted to sell its AES Data Inc word processor investment (CI No 615). CPT has reached agreement in principle to acquire the Montreal-based company on undisclosed terms. AES did $133m in sales in 1986, but is not believed to have been profitable. If it goes through, the acquisition of AES will greatly expand CPT’s rather patchy presence in Europe, where it initially made its mark by having its dedicated word processors marketed by Bull SA of France. AES has 75 field engineers operating out of six centres in the UK.

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CBR Staff Writer

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