Toronto-based Westbridge Computer Corp and the STM Systems Corp unit of International Semi-Tech Microelectronics Inc, have signed a letter of intent to merge with Westbridge acquiring the outstanding shares of STM Systems, and IBM Canada Ltd making an unspecified investment in the new company, leaving IBM Canada, International Semi-Tech and Saskatchewan Telecommunications with 27% each of Westbridge with the remaining 19% of the systems integration company publicly held. The proposed transaction is expected to be completed next month, subject to approvals and the necessary cash being found.
