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Osicom Technologies Inc

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BUSINESS
September 6, 1996 | Times Staff and Wire Reports
Osicom to Buy Cray Unit: Santa Monica-based Osicom Technologies Inc. said it is acquiring Cray Communications Inc., the U.S. division of Cray Electronics Holdings, for $17 million in cash and preferred stock. Under the deal, Osicom, which makes telecommunications network equipment, would also get access to Cray Electronics products at favorable terms for at least the next three years. Cray Electronics is a software systems and telecommunications group based in Britain. Its U.S.
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BUSINESS
August 5, 2000 | Dow Jones
Sync Research Inc. and Osicom Technologies Inc. have revised a merger agreement that would give Santa Monica-based Osicom a majority stake in Sync, the Irvine maker of computer networking gear said Friday. The original agreement called for Sync and an Osicom subsidiary to merge, with Sync and Osicom shareholders each owning 50% of the combined company. Under the revised arrangement, Sync would issue more common shares to Osicom after the merger.
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BUSINESS
June 16, 2000 | Times Staff
Telecom networking company Osicom Technologies saw its shares plunge $16.13 to $47.88 on Nasdaq on Thursday as investors appeared stunned by the size of the company's loss in its latest quarter. Santa Monica-based Osicom said it lost $1.15 a share in the quarter ended April 30, compared with a loss from continuing operations of 15 cents a share a year earlier. The company said sales from continuing operations were $10 million in the latest quarter versus $13 million a year earlier.
BUSINESS
April 8, 1997 | (Bloomberg News)
Osicom Technologies Inc. said it agreed to supply remote-access units for MCI Communications Corp.'s network services contract with the U.S. Postal Service. Financial terms weren't disclosed. MCI last month said it won a five-year contract from the Postal Service to build a telecommunications network. The contract has a minimum value of $100 million and could pay as much as $3 billion, Washington-based MCI said.
BUSINESS
August 5, 2000 | Dow Jones
Sync Research Inc. and Osicom Technologies Inc. have revised a merger agreement that would give Santa Monica-based Osicom a majority stake in Sync, the Irvine maker of computer networking gear said Friday. The original agreement called for Sync and an Osicom subsidiary to merge, with Sync and Osicom shareholders each owning 50% of the combined company. Under the revised arrangement, Sync would issue more common shares to Osicom after the merger.
BUSINESS
April 19, 1996 | John O'Dell
Rockwell International Corp. has been refocusing itself for several years, selling units that no longer fit with its core businesses and buying businesses that do. One operation it shed earlier this year, its Santa Barbara-based computer networking systems subsidiary, was sold for $11 million cash to Osicom Technologies Inc in Santa Monica.
BUSINESS
December 15, 1999 | From Times Staff and Wire Reports
A New York investment firm that bought a 6% stake in a Santa Monica-based optical networking company, Osicom Technologies Inc., more than doubled its money in two days after Osicom reported its first quarterly profits in 18 months. FIBR Holdings, a company controlled by the investment firm of Andersen Weinroth & Co., bought 679,483 shares of Osicom Technologies on Dec. 1 at $11.04 a share for a total of $7.5 million. The price for the shares--42% below the stock's market price Dec.
BUSINESS
March 17, 1997 | MIGUEL HELFT
Although it was founded in 1981, Osicom Technologies Inc. is essentially a new company. Originally a supplier of disk drive components, the Santa Monica firm entered the red-hot data-networking business in 1993 with the acquisition of Meret Optical Communications Inc. Since then, Osicom has acquired six more companies--four of them in 1996--and positioned itself as a provider of a broad range of products used to route information over the Internet and other computer networks.
BUSINESS
April 23, 1999 | WALTER HAMILTON, TIMES STAFF WRITER
Osicom Technologies acknowledged Thursday that a contract it once estimated to be worth $90 million generated only $68,000 in revenue, a development that sent its stock plunging and raised fresh questions about the company's credibility. The Santa Monica-based computer networker had announced July 1 that an order for a personal data assistant device from an unidentified Japanese firm would bring in about $90 million over two years. The stock jumped more than 20% the next day.
BUSINESS
June 13, 2000 | WALTER HAMILTON, TIMES STAFF WRITER
Shares of Santa Monica-based computer networker Osicom Technologies surged 16% on Monday after the company announced the resignation of its chairman and chief executive. Par Chadha, who founded the company in 1981, will resign effective July 8 but will remain as a consultant to the company, according to a filing with the Securities and Exchange Commission. Rohit Phansalkar, a partner at Andersen Weinroth & Co.
BUSINESS
April 12, 2000 | KAREN KAPLAN, TIMES STAFF WRITER
Sync Research Inc., a struggling maker of computer networking gear in Irvine, has agreed to merge with a subsidiary of Santa Monica optical networking firm Osicom Technologies, the companies said Tuesday. Osicom and Sync shareholders will each own 50% of the combined company, to be called Entrada Networks. A spokesman for Sync said the new operation will be based in Irvine, and that no layoffs are planned. There was no word on when the deal will close.
BUSINESS
April 12, 2000 | KAREN KAPLAN, TIMES STAFF WRITER
Santa Monica optical networking firm Osicom Technologies said Tuesday it would merge its Network Access subsidiary with Sync Research, an Irvine maker of computer networking gear. Osicom and Sync shareholders will each own 50% of the combined company, to be called Entrada Networks. A spokesman for Sync said the new operation will be based in Irvine. There was no word on when the deal will close. No layoffs are planned.
BUSINESS
December 15, 1999 | From Times Staff and Wire Reports
A New York investment firm that bought a 6% stake in a Santa Monica-based optical networking company, Osicom Technologies Inc., more than doubled its money in two days after Osicom reported its first quarterly profits in 18 months. FIBR Holdings, a company controlled by the investment firm of Andersen Weinroth & Co., bought 679,483 shares of Osicom Technologies on Dec. 1 at $11.04 a share for a total of $7.5 million. The price for the shares--42% below the stock's market price Dec.
BUSINESS
April 23, 1999 | WALTER HAMILTON, TIMES STAFF WRITER
Osicom Technologies acknowledged Thursday that a contract it once estimated to be worth $90 million generated only $68,000 in revenue, a development that sent its stock plunging and raised fresh questions about the company's credibility. The Santa Monica-based computer networker had announced July 1 that an order for a personal data assistant device from an unidentified Japanese firm would bring in about $90 million over two years. The stock jumped more than 20% the next day.
BUSINESS
July 24, 1998 | WALTER HAMILTON, TIMES STAFF WRITER
At first glance, the one-paragraph press release from Osicom Technologies looks good for shareholders. The release, issued Wednesday, says that Par Chadha, Osicom's chief executive, bought almost 350,000 shares of the company's depressed stock. But the release doesn't reveal that Chadha acquired the shares from an institutional investor that had approached Osicom about selling its stock back to the company.
BUSINESS
April 12, 2000 | KAREN KAPLAN, TIMES STAFF WRITER
Sync Research Inc., a struggling maker of computer networking gear in Irvine, has agreed to merge with a subsidiary of Santa Monica optical networking firm Osicom Technologies, the companies said Tuesday. Osicom and Sync shareholders will each own 50% of the combined company, to be called Entrada Networks. A spokesman for Sync said the new operation will be based in Irvine, and that no layoffs are planned. There was no word on when the deal will close.
BUSINESS
April 12, 2000 | KAREN KAPLAN, TIMES STAFF WRITER
Santa Monica optical networking firm Osicom Technologies said Tuesday it would merge its Network Access subsidiary with Sync Research, an Irvine maker of computer networking gear. Osicom and Sync shareholders will each own 50% of the combined company, to be called Entrada Networks. A spokesman for Sync said the new operation will be based in Irvine. There was no word on when the deal will close. No layoffs are planned.
BUSINESS
July 24, 1998 | WALTER HAMILTON, TIMES STAFF WRITER
At first glance, the one-paragraph press release from Osicom Technologies looks good for shareholders. The release, issued Wednesday, says that Par Chadha, Osicom's chief executive, bought almost 350,000 shares of the company's depressed stock. But the release doesn't reveal that Chadha acquired the shares from an institutional investor that had approached Osicom about selling its stock back to the company.
BUSINESS
April 8, 1997 | (Bloomberg News)
Osicom Technologies Inc. said it agreed to supply remote-access units for MCI Communications Corp.'s network services contract with the U.S. Postal Service. Financial terms weren't disclosed. MCI last month said it won a five-year contract from the Postal Service to build a telecommunications network. The contract has a minimum value of $100 million and could pay as much as $3 billion, Washington-based MCI said.
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