Datacopy Corp, Mountain View, California has agreed to be acquired for $31m cash by Xerox Corp. Datacopy manufactures desktop scanners and image processing systems and develops related software for use in desktop publishing, optical character recognition and Personal Computer-facsimile communications. Datacopy has also agreed to a lock-out clause, granting Xerox an option to buy up to 18.5% of the shares outstanding at $6 per share. Xerox Document Systems in Sunnyvale sees the acquisition as a key step towards its goal of leadership in document processing. Datacopy, with 90 staff, did $13m sales in 1987.
XEROX TO PAY $31m FOR SCANNER MAKER DATACOPY CORP
