Swiss video conferencing company IAT Multimedia Inc is planning to acquire systems integrator and services company Atec Group Inc for around $77m in stock, based on an assumed $10 market price per share of Atec common stock. IAT says the acquisition will help it penetrate the North American market. Atec has established distribution channels and relationships with PC manufacturers such as Compaq Computer Corp and Hewlett-Packard Co. IAT also intends to cross-sell Atec’s Year 2000 software. Its own products include medical multimedia applications, Wonderboard video conferencing software and Trinology line of high performance PCs customized for real-time, multi-point video conferencing. Nasdaq- listed IAT Multimedia is part of the IAT Group, founded in 1989 and based in Zuruch and Bremen. Last year, the company acquired 80% of the German PC distribution company FSE Computer-Handel GmbH & Co.
