American Micro Technology Corp., a mail-order computer company based in Tustin, said Monday that it has agreed in principle to be acquired by a Denver firm.
Video Data Network Inc. will buy all of the stock of Mansi Investments Inc., which conducts business under the American Micro name, for about $13 million in cash, according to Jack L. Legg, Video Data's president.
Legg said his company decided to buy American Micro because of its "lean and mean" financial management. "One thing that impressed me," he said, "is they turn over their inventory every 30 days at least."
Legg added that there is "great potential for growth" in the personal-computer industry.
Founded three years ago, American Micro assembles and markets eight models of IBM-compatible personal computers. American Micro sells directly to individuals, corporations and government agencies. The privately held firm expects to report sales of $10.5 million to $11 million for its fiscal year ended Sept. 30, Legg said.
Video Data was founded in 1986 as a so-called blind pool: a corporation formed to raise money to merge with or buy an established firm. Video Data sold stock to the public in January, and its stock is traded over the counter at less than 75 cents per share.