Lee Data Corp is abandoning the struggle in the IBM 3270-compatible display terminal business and selling its commercial and international business to Intelligent Information Systems Inc for $8m. Lee, which is forecasting a fourth quarter loss to April 1 of $20m to $25m – in the same period a year ago, the Minneapolis company lost $2.5m on sales of $21.5m. Lee says it now wants to focus on its telecommunications services business. Chairman and chief executive John Lee will resign on April 1, and an unspecified proportion of the 650 employees of the company will be laid off.
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