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Wicken heads team buying Boston Digital.

Boston Digital Corp, Milford, MA, has been acquired by Charterhouse Equity Partners, a New York investment firm, and a management team headed by Michael Wicken. Other investors include Roger Schroeder and Ian Joyce. Both have joined the management team. Mr Wicken resigned as president of Robert E Morris Co to take over as CEO of Boston Digital. Prior to joining Morris, Mr Wicken headed up Toyota Machinery USA Inc. Selling price was reported at about $11 million.

Boston Digital is best known for its BostoMatic NC control and its five-axis machining centers. Mr Wicken tells T&P his goal is to combine Boston Digital's engineering capability and high-accuracy and control expertise with a more aggressive marketing strategy. "Boston Digital has been its own best kept secret," Mr Wicken says, "and we want to change that thinking to become more marketing oriented without destroying the firm's engineering strengths." The Robert E Morris and Ellison distributor chains will be added as distributors.

Mr Wicken also reports he is committed to broadening the firm's product mix and plans to have new products on the market within a year. Although he hesitates to be more specific, he indicates they will be in the machining center line. He is also working to develop a joint venture with a Russian firm he will use as a source of iron for machine tools. In addition, he will tap the firm's design capabilities and eventually may use it as a base for marketing into Eastern Europe. He adds that, although nothing is eminent, future acquisitions in high tech niches are also in his long-range plan.

Mr Wicken characterizes his new firm as competing in the top 15% of the market. He hopes to broaden the product mix so that it is competitive in about the top 35% of the market. "We want to expand our ability to compete," he says.
COPYRIGHT 1993 Nelson Publishing
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Copyright 1993 Gale, Cengage Learning. All rights reserved.

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Title Annotation:Michael Wicken; Boston Digital Corp.
Publication:Tooling & Production
Date:Jul 1, 1993
Words:312
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SOURCES: MCCOURT COURTING DODGERS.

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