NETWORK SYSTEMS COMPLETE ACQUISITION OF BUS-TECH, INC.
MINNEAPOLIS, May 26 /PRNewswire/ -- Network Systems(R) Corporation (NASDAQ-NMS: NSCO), announced today that it has completed the acquisition of Bus-Tech, Inc(R). The company had previously announced its intention to acquire Bus-Tech, a maker of interconnect controllers based in Burlington, Mass. The acquisition was a cash-for-assets purchase valued at $24.5 million. Bus-Tech, Inc., founded in 1987, is the market leader in interconnect controllers. The company's products provide mainframe connections to Ethernet, Token Ring, and FDDI networks as well as server technologies. One of its key products is aversion of the IBM 3172 packaged with Novell's NetWare for SAA. Network Systems, founded in 1974 and based in Minneapolis, provides industry-leading networking solutions that integrate the host-based and LAN-based worlds of computing. The company had annual revenues in 1992 of $219 million. Network Systems, which has installed systems in more than 4,000 customer sites around the world, develops, manufactures, markets, and supports bridge-routers, channel extenders, CPU networking devices, network-attached storage and backup solutions, and high-speed switches. -0- 5/26/93 /CONTACT: Julia Samsal, 612-424-1649, or Mary Dudley, 612-424-1532, both of Network Systems/ (NSCO)
CO: Network Systems Corporation, Bus-Tech, Inc. ST: Minnesota, Massachusetts IN: CPR SU: TNM
DB -- MN001 -- 2351 05/26/93 10:02 EDT
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|Date:||May 26, 1993|
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