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INDUSTRY NOTES

Gradco Systems Inc. Completes Acquisition

May 12, 1987

Gradco Systems Inc., an Irvine-based supplier of copy machine sorters, said its previously announced acquisition of New Jersy-based Ziyad Inc. has been completed.

Shareholders of Ziyad, which manufactures paper feeders for laser printers, will receive approximately $11 million cash and 1.5 million shares of Gradco common stock.

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