Computational Systems, Inc. Finalizes Acquisition of Maintenance & Diagnostics, LLC.KNOXVILLE, Tenn.--(BUSINESS WIRE)--Oct. 29, 1996--In a move which strengthens its position in the electrical power industry “Electric company” redirects here. For the 1970s PBS children's television show, see The Electric Company. The electrical power industry provides the production and delivery of electrical power (electrical energy), often known as power, or , Computational Systems, Inc. (Nasdaq/NM:CSIN CSIN Chemical Substances Information Network CSIN Computer Systems Information Network ) today consummated the previously announced acquisition of Philadelphia-based Maintenance & Diagnostics, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . Maintenance & Diagnostics (M&D) is a research, service, and training center for the electric power industry which was founded in 1994. Today, consideration for the transaction, including certain license fees, is approximately $5.5 million, paid in cash and CSI CSI Crime Scene Investigator CSI CompuServe, Inc. CSI Commodity Systems, Inc. CSI Commodity Systems Inc. (Boca Raton, FL) CSI Crime Scene Investigation (CBS TV show) CSI Christian Schools International stock. It is currently expected that M&D's revenues for 1996 will total approximately $10 million. The acquisition will be accounted for as a purchase. "The acquisition perfectly positions CSI and M&D to better-serve the global electric power industry," commented CSI Chief Executive Officer Ronald G. Canada. M&D has ongoing condition monitoring projects in over 40 utilities, representing 15 percent of the industry, such as PECo Energy, Duke Power, Southern California Edison Southern California Edison (or SCE Corp), the largest subsidiary of Edison International (NYSE: EIX), is the primary electricity supply company for much of Southern California. It provides 11 million people with electricity. , and Commonwealth Edison. Internationally, M&D is engaged in projects in France, Hong Kong, Italy, and Korea. John W. McElroy, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of M&D said, "Both M&D and CSI have established outstanding reputations in the electric power market. This merger will prove to strengthen both companies and will reconfirm the commitment we all have to the electric power market." Recognizing the current light of deregulation Deregulation The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry. Notes: Traditional areas that have been deregulated are the telephone and airline industries. in the power industry, the need for advanced maintenance strategies is increasing as the utilities realize the potential savings and increased reliability they can achieve with integrated maintenance technologies. M&D is now a division of CSI Services, Inc. a wholly-owned subsidiary of CSI which also holds Paragon Services. With the addition of M&D, CSI employs more than 400 people worldwide. CONTACT: Computational Systems, Inc., Knoxville Bryan Collier, 423/675-2110 |
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