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August 4, 1987

TELEVIDEO SIGNS TO PAY $30m IN SHARES, CASH, FOR ZENTEC

By CBR Staff Writer

VDU and Personalike maker TeleVideo Systems Inc, Sunnyvale, California has a letter of intent to acquire OEM terminal maker Zentec Corp, Santa Clara. It will pay 8.7m new Televideo shares for all the Zentec out – worth $21.2m at Monday’s close, and will pay another $9m cash for all its preferred, valuing the company at $30.2m, which is a little more than one year’s sales, $27m last year. The two plan to consolidate their operations into a single company with TeleVideo chairman Philip Hwang as chairman and Zentec president William Parker as president. Based upon the prior years’ annual reports, combined sales of the two would have been $119m. Last year, 150-employee Zentec bought the Data Products Division of Lear Siegler Inc, adding the ADMs to its line.

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