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Styles on Video Reaches Agreement on Sale

December 24, 1996|BARBARA MURPHY

Styles on Video Inc. in Newbury Park has reached a preliminary agreement with privately held Hasco International Inc. for the sale to Hasco of its Forever Yours newborn-photography business.

Forever Yours uses digital technology to take in-hospital photographs of infants. The cameras are provided by Dycam Inc., which is majority owned by Styles on Video.

Hasco, through its First Foto operation, is the largest company in the newborn-photography field.

Completion of the transaction is subject to satisfactory completion of due diligence by both companies, execution of definitive agreements and various other conditions, including approval by the stockholders of Styles on Video. Other terms of the transaction are being negotiated and were not announced.

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