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INTERFACE SYSTEMS ACQUIRES REMAINING 75 PERCENT OF SINTEC PERIPHERALS, ITS EUROPEAN MASTER DISTRIBUTOR

INTERFACE SYSTEMS ACQUIRES REMAINING 75 PERCENT OF SINTEC PERIPHERALS,
 ITS EUROPEAN MASTER DISTRIBUTOR
 ANN ARBOR, Mich., April 14 /PRNewswire/ -- Interface Systems, Inc. (NASDAQ: INTF) announced that effective Feb. 1, 1992, it acquired all of the remaining shares of Sintec Peripherals, Ltd. Prior to this purchase, Interface Systems held a 25-percent interest in Sintec. Sintec is being renamed Interface Systems International, Ltd.
 Sintec Peripherals, Ltd. is a sales, technical support, and service company that sells Interface Systems' printer products and Cleo Communications' connectivity products throughout Europe. In addition, Sintec is a leading distributor of Kyocera laser printers, personal computers, and printer supplies in the United Kingdom.
 Sintec was established in 1987 as a European distributor of computer equipment. The founders of Sintec were all employees of Centronics U.K., where Ken Sinden was managing director. When Centronics was acquired by Genicom Corporation, Sinden and his associates left to form Sintec. Interface Systems' IBM plug-compatible printers were the first product line that Sintec Peripherals represented. Sintec has since taken on Interface Systems' Cleo Communications products and developed a printer supplies business servicing the United Kingdom.
 Carl Bixby, Interface Systems president and chief executive officer, said, "We are excited at the prospect of having Sintec Peripherals, Ltd. as an integral part of our company. The European market, including Eastern Europe, offers a tremendous growth opportunity for Interface Systems' product sales. Ken Sinden and his management team are an outstanding addition to Interface Systems, Inc. Interface has no plans to change the management or operation of Sintec. We hope to be able to assist by providing the financial strength to support their growth."
 Interface Systems' past performance will not be restated, but in the 12-month period prior to the purchase, Sintec would have added nearly $8 million in revenue. Incremental revenue in the next 12 months is expected to exceed $10 million. Direct earnings contributions from the acquisition are expected to be modest for the first few quarters, partially due to the acquisition costs as well as the fact that as a distributor, Sintec margins are lower than manufacturing margins. Direct contributions to Interface's manufacturing margins are expected to be excellent as Sintec continues to increase sales of Interface and Cleo products throughout Europe.
 Ann Arbor-based Interface Systems is a diversified manufacturer of high-technology products. The company and its subsidiaries manufacture plug-compatible printers for IBM mainframe and midrange computer systems; PC-to-mainframe data communications systems; industrial-grade computers and computer terminals, called industrial workstations; and custom-printed circuit boards.
 -0- 4/14/92
 /CONTACT: Carl L. Bixby of Interface Systems, Inc., 313-769-5900/
 (INTF) CO: Interface Systems, Inc.; Sintec Peripherals, Ltd. ST: Michigan IN: CPR SU: TNM


JG -- DE012 -- 8152 04/14/92 10:15 EDT
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Publication:PR Newswire
Date:Apr 14, 1992
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