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Technology / AI and automation

STAR TELECOM TO ACQUIRE LD SERVICES

Santa Barbara, California-based Star Telecommunications Inc, the international long distance telephone service provider, has acquired privately held LD Services Inc of Santa Fe Springs, California, a long distance company that has concentrated on the Hispanic market in Southern California and Mexico. LD, which made revenues of around $30m in 1996, was almost acquired by Austin Texas-based IXC Communications Inc earlier this year, but merger plans were terminated in June following intervention by the California Public Utilities Commission. LD shareholders will receive 500,000 shares of Star common stock under the agreement, which is not expected to cut earnings in fiscal 1997, and should contribute in fiscal 1998.

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