Hewlett-Packard Co has definitive agreement for acquisition of Colorado Memory Systems Inc, Loveland, Colorado, on undisclosed terms. Privately-held Colorado makes personal computer quarter inch cartridge tape back-up systems for low-end machines, and Hewlett wants it to complement its own 4mm digital audio tape back-up products, which are used with high-end personal computers and workstations and mid-range to high-end network servers. Colorado will become an independent subsidiary within Hewlett’s Mass Storage Group. It was founded in 1972 and currently employs 600 people. Sales for its 1992 fiscal year to April 30 were $131.5m on which it did $2.6m net. It has a small European facility in Marlow, here.
Content from our partners
