Telos Corp.Telos Corp. of Santa Monica Santa Monica (săn`tə mŏn`ĭkə), city (1990 pop. 86,905), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1886. Tourism and retailing are important, and the city has motion-picture, biotechnology, and software industries. announced the completion of its acquisition by Contel Federal Systems Inc. of Chantilly, Va. The acquisition was accomplished by a merger of a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Contel Federal Systems into Telos and was approved by shareholders on Feb. 20, 1990. Under the terms of the merger, Telos shareholders will be entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: to receive $15.50 per share in cash. In addition, all options to acquire Telos stock from the company are cancelled and shareholders will be paid the difference between $15.50 cash and the option exercise price. Contel Federal Systems Inc. is a telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. and information management subsidiary of Contel Corp. Telos, a technology services firm, will be operated as a wholly owned subsidiary of Contel Federal. |
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