Costa Mesa-based CMS, a marketer of computer peripherals and accessories, said it has signed a two-year agreement to purchase up to $15 million worth of products from Cipher Data Products Inc. of San Diego.
Under the contract, already in effect, CMS will buy Cipher's 1/4- and 1/2-inch computer tape drives and subsystems for use in CMS' line of tape backup products for data storage. The agreement is valued at $5 million for the first year and "could easily be worth twice that" in 1988, Allen G. Taylor, CMS vice president of marketing, estimated. CMS, a subsidiary of publicly held Electro Funds Corp., said it ships more than 15,000 disc drives and backup systems per month to computer dealers. The company reported $41 million in revenue for its 1986 fiscal year ended June 30.