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VARITRONICS AND KROY TERMINATE ACQUISITION DISCUSSIONS

 MINNEAPOLIS, Dec. 9 /PRNewswire/ -- Varitronic Systems, Inc. (NASDAQ: VRSY), and Kroy, Inc., today jointly announced that discussions concerning the proposed acquisition of Kroy by Varitronics have been terminated. On Nov. 23, the two companies announced they had signed a letter of intent for Varitronics to acquire all of the outstanding stock of Scottsdale, Ariz.-based Kroy.
 Following a detailed review of Kroy's business, which was conducted by Varitronics during the due diligence process, the companies were unable to reach final agreement concerning valuation. Varitronics and Kroy are subject to contractual provisions that restrict the discussion of details of their negotiations.
 Kroy is an international developer, manufacturer and distributor of high quality communications products, including lettering, labeling, bar coding, sign systems and specialty products.
 Minnesota-based Varitronics develops, manufactures and markets innovative, high quality machines and supplies for the everyday presentations market and the industrial labeling and signage market.
 -0- 12/9/93
 /CONTACT: Debbie Moore of Varitronics, 612-542-1592; or Melissa Quinn of Padilla Speer Beardsley, 612-871-8877, for Varitronic Systems/
 (VRSY)


CO: Varitronic Systems, Inc.; Kroy, Inc. ST: Minnesota IN: SU: TNM

CP-AL -- MN002 -- 2139 12/09/93 10:31 EST
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Publication:PR Newswire
Date:Dec 9, 1993
Words:189
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