ALLEN GROUP ACQUIRES TSR TECHNOLOGIES, INC.
BEACHWOOD, Ohio, Oct. 11 /PRNewswire/ -- The Allen Group Inc. (NYSE: ALN) announced today that Grayson Electronics, a subsidiary of its Allen Telecom Group, has acquired the business of TSR Technologies, Inc. (TSR) based in Blacksburg, Va. TSR, which is approximately two and one-half years old, has 1993 year-to-date sales of approximately $1 million. TSR developed, and now manufactures and sells, system design, maintenance and fraud detection equipment for both the paging and cellular telephone markets. The founder of TSR, Dr. Ted Rappaport, who will continue as a full-time professor at Virginia Polytechnic Institute, will become a part-time consultant to Grayson Electronics. The Allen Group Inc. (NYSE symbol - ALN) manufactures and markets electronic and other mobile communications products for the wireless telecommunications industry, produces and sells truck components and operates centralized automotive emissions inspection programs. -0- 10/11/93 /CONTACT: Robert A. Youdelman of The Allen Group, 216-765-5820/ (ALN)
CO: The Allen Group; TSR Technologies, Inc. ST: Ohio, Virginia IN: AUT TLS SU: TNM
AR -- CL002 -- 0569 10/11/93 09:23 EDT
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|Date:||Oct 11, 1993|
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