SYMBOL TECHNOLOGIES TO ACQUIRE TRUE DATA FOR ADVANCED HARDWARE, SOFTWARE, CONNECTIVITY CAPABILITIES
SYMBOL TECHNOLOGIES TO ACQUIRE TRUE DATA FOR ADVANCED HARDWARE,
SOFTWARE, CONNECTIVITY CAPABILITIES
BOHEMIA, N.Y., Nov. 4 /PRNewswire/ -- Symbol Technologies Inc. (NYSE: SBL), the world leader in bar code based data capture systems, today announced it has agreed in principle to acquire True Data Corporation, a leading supplier of industrial data collection products and services.
Headquartered in Santa Ana, Calif., True Data designs and manufactures an advanced network of intelligent data collection terminals, along with a powerful set of integrated software tools for applications generation, database management and network control. The consummation of the transaction is subject to, among other matters, the execution of a definitive agreement and obtaining necessary corporate approvals.
The True Data product line, the PERFORMance Network, is specially designed for use in the growing industrial/manufacturing data collection market in applications such as work-in-process, time-and-attendance, shipping, receiving and material tracking.
"We are pleased we will be able to include the True Data range of product solutions in the Symbol Technologies product line," said Raymond Martino, president, Symbol Technologies. "Upon completion of this acquisition, we will be able to offer a complete set of capabilities to a wider range of customers and enhance our ability to offer our customers systems oriented solutions. The True Data line will complement our bar code scanning and portable data product offerings. Their marketing and sales experience will lead Symbol into many new selling opportunities and their engineering and sales associates will play key roles in our continued growth."
Thomas K. Carpenter, True Data president and chief executive officer, will lead Symbol's selling effort of True Data products.
"Symbol provides worldwide channels of distribution for True Data products and services," Carpenter said.
Richard D. Fretwell, True Data vice president of product development, will maintain his role as head of development for the True Data product line.
Symbol Technologies Inc. is the world's largest supplier of bar code readers and data capture systems with more than one million scanners and terminals installed. The company designs, manufactures and markets bar code reading equipment, hand-held computers and radio frequency data communications products that are used as strategic building blocks in data collection systems for retailing, manufacturing, distribution, transportation and many other industries.
/CONTACT: Nancy Tully or Doug Picker, 516-244-4699; Mike Archambault (financial), 516-244-4104, all of Symbol Technologies; or Linda Pendergast-Savage of Miller Communications, 617-536-0470, for Symbol Technologies/
(SBL) CO: Symbol Technologies Inc.; True Data Corporation ST: New York, California IN: SU: TNM FC-SH -- NY022 -- 0663 11/04/91 10:53 EST