Helix Systems Ltd., a Canoga Park maker of durable computer-memory equipment, said Monday that it has agreed to buy S.A.R.R. Industries in Chatsworth for 345,000 shares of stock.
Helix's shares, which trade on the Vancouver Stock Exchange, are hovering now at about $2 (Canadian), making the acquisition worth about $500,000 in U. S. dollars, based on present exchange rates. Another 100,161 shares of Helix stock may be issued to complete the acquisition if the stock's price falls below $1.75 (Canadian), a company spokesman said.
The acquisition is subject to approval of the Vancouver exchange. S.A.R.R., which employs five people, makes parts for industrial robots used in packaging.