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ACT Networks Buys Montreal Company

VENTURA COUNTY ROUNDUP

December 12, 1995|JACK SEARLES

ACT Networks Inc., a Camarillo producer of computer networking products, has acquired a Montreal company for $8.7 million in cash and stock.

The acquisition, Presticom Inc., develops devices for transmitting data over wide-area computer networks.

Presticom had $2.2 million in sales in the year ended Sept. 30. ACT plans to take a charge of $5 million to $6 million to reflect the cost of the purchase.

ACT said Presticom's products complement its own devices, which are designed for voice communications.

ACT reported a loss of $211,000, or 3 cents a share, on sales of $5.1 million in the three months ended Sept. 30.

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