Printer Friendly

DIGITAL COMMUNICATIONS AND INTERCOMPUTER COMMUNICATIONS COMPLETE MERGER FOR $8.2 MILLION IN CASH, PLUS STOCK

 DIGITAL COMMUNICATIONS AND INTERCOMPUTER COMMUNICATIONS
 COMPLETE MERGER FOR $8.2 MILLION IN CASH, PLUS STOCK
 ALPHARETTA, Ga., April 15 /PRNewswire/ -- Digital Communications Associates Inc. (DCA) (NYSE: DCA) today said it has completed its previously announced acquisition by merger with Intercomputer Communications Corp. (ICC) for $8.2 million in cash and approximately 657,000 shares of DCA common stock with a trading value of approximately $13.5 million, based on its closing price on April 14, 1992.
 DCA also announced that William Miller, ICC founder and former chief executive officer, has been named chief technology officer at DCA and will relocate to its headquarters near Atlanta. Miller will be responsible for developing DCA's corporate technical/marketing strategy.
 Based in Cincinnati and privately held, ICC develops and markets communications products worldwide that connect microcomputers and minicomputers to Unisys mainframe computers and local area networks (LANs). ICC had $17.2 million in sales and $975,000 in profits during its last fiscal year ended June 30, 1991.
 Under the terms of the merger, DCA common stock issued in conjunction with the transaction will not be registered under federal securities laws. Accordingly, DCA believes this will impact the current value of the DCA shares delivered in the merger transaction and will record a 30 percent discount from the publicly traded market value of the shares in the transaction. DCA does not expect that this transaction will be dilutive to its earnings per share.
 Located 30 miles north of Atlanta, DCA designs, manufactures, markets and supports products worldwide that enhance the productivity of users of personal computers. In its last fiscal year ended June 30, 1991, DCA reported sales of $192 million and $15.4 million in profits.
 -0- 4/15/92
 /CONTACT: Media: William B. Marks, 404-442-4520 (office), 404-987-9565 (after hours) or 404-690-6665 (beeper); Analysts: Kathleen J. Hassett 404-442-4268, both of Digital Communications Associates/
 (DCA) CO: Digital Communications Associates, Inc.; Intercomputer
 Communications Corp. ST: Georgia, Ohio IN: CPR SU: TNM


BN-BR -- AT013 -- 8688 04/15/92 12:17 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 15, 1992
Words:335
Previous Article:MATTEL REPORTS 40 PERCENT EARNINGS PER SHARE INCREASE ON 22 PERCENT SALES GROWTH
Next Article:ROLLS-ROYCE TO DELIVER FIRST $262,000 BENTLEY HERE TOMORROW


Related Articles
DIGITAL COMMUNICATIONS AND INTERCOMPUTER COMMUNICATIONS AGREE TO MERGE FOR $8.2 MILLION IN CASH, PLUS STOCK
DCA ANNOUNCES RLN 1.1
DIGITAL COMMUNICATIONS ASSOCIATES AGREES TO ACQUIRE COMPUTER LOGICS
DIGITAL COMMUNICATIONS ASSOCIATES COMPLETES ACQUISITION OF COMPUTER LOGICS
VIACOM $450 MILLION 'BB+' SUBORDINATED DEBT ON FITCHALERT POSITIVE -- FITCH FINANCIAL WIRE --
ECS ACQUISITION COMMENCES $18.75 PER SHARE TENDER OFFER FOR DIGITAL COMMUNICATIONS ASSOCIATES
Pegasus Communications Corporation Completes Acquisition Of DBS Company in West Virginia/Virginia
IWL Communications Amends Merger Agreement
Equalnet Announces Improved Quarterly Earnings; Direct Equity Investment By Third-Parties.
Hughes and EchoStar Terminate Proposed Merger Agreement; EchoStar Pays Hughes $600 million; Hughes to Keep PanAmSat Interest.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters