June 6, 1990 |
A bit of merger mania surfaced Tuesday in Orange County. Four high-technology companies--Helionetics, Printrak, CAM Data and Hart Industries--made announcements relating to merger completions or buyout proposals. The largest transaction involved Irvine-based defense contractor Helionetics Inc., which said it had completed its acquisition of larger Definicon International Corp. The deal involved an exchange for 1.8 million shares of Helionetics stock. Helionetics, with annual sales of $12.
February 13, 1990 |
Helionetics Inc. announced Monday that it had signed a letter of intent to acquire Definicon International Corp. of Newbury Park for about $12.5 million in stock. Charles W. Jobbins, Helionetics chairman and chief executive, said the merged companies will be called Helionetics International, and Vincent P. Williams, currently chief executive of Definicon, will be the new company's president and chief executive.
August 22, 1989
Definicon International Corp., a Newbury Park-based maker of components for IBM computers, said it plans to sell 1.5 million common share units for $3 each in an initial public offering. The company said in a filing with the Securities and Exchange Commission that the $3.57 million in net proceeds it expects from the offering would be used to establish a European headquarters, repay debt and provide additional working capital.
April 12, 1990 |
Faced with a cash shortage that forced layoffs and other cutbacks, defense contractor Helionetics Inc. reported an after-tax loss from operations of $386,000 on revenue of $2.3 million for its fourth quarter ended Dec. 31. The fourth-quarter loss compares to a loss of $171,000 on revenue of $1.6 million a year ago. Helionetics said the loss will carry over into its first quarter, which ended March 31.
November 29, 1990 |
Helionetics Inc., the computer and military products company, has shut down an Anaheim subsidiary that was suspended from doing business with the federal government earlier this year, according to a company filing with the Securities and Exchange Commission.