Standard Logic Inc has preliminary agreement to acquire Huntington Beach, California-based TouchStone Software Corp in an exchange of shares that will effectively be a reverse takeover since TouchStone shareholders will have the majority of the equity of the combined company, which will change its name to TouchStone Software Corp with its principal business the development and marketing of software utilities; a group comprising Standard Logic management may also be required to buy some assets and operations of that company at fair market value leaving the resultant company exclusively a software publisher; main reason for the deal is to enable Touchstone to take over Standard Logic’s NASDAQ quote; Standard’s main business is products and services for the electronic packaging industry chip packaging systems, logic panels, backplanes, contract engineering and manufacturing, but it also provides software and wire-wrapping services for its in-house products and to numerouscommercial and military customers.
