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Recognition Equipment Inc

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BUSINESS
July 6, 1989 | From United Press International
Recognition Equipment Inc. and Plexus Computers Inc. said they signed a letter of intent for Recognition to acquire Plexus' image-processing software technology. The terms of the deal were not disclosed.
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BUSINESS
March 10, 1992
TransTechnology Corp., a Sherman Oaks-based concern that makes a variety of industrial and defense-related products, said it has entered into an agreement to sell its Lundy Financial Systems business for $37.8 million to Recognition Equipment Inc., a Dallas-based maker of equipment for document processing and computer data entry. Of the total, $35.3 million will be paid in cash and $2.5 million in a three-year note, TransTechnology said.
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BUSINESS
July 6, 1989 | From United Press International
Recognition Equipment Inc. and Plexus Computers Inc. said they signed a letter of intent for Recognition to acquire Plexus' image-processing software technology. The terms of the deal were not disclosed.
BUSINESS
January 14, 1992
TransTechnology Corp., a Sherman Oaks concern that makes a variety of industrial and defense-related products, said it signed a letter of intent to sell its Lundy Financial Systems division to Recognition Equipment Inc. for $39 million in cash. The sale would result in a pretax gain of $8 million, it said. The proposed sale is part of TransTechnology's previously announced restructuring that includes divesting several divisions to reduce costs and cut debt.
BUSINESS
September 20, 1990 | United Press International
Recognition Equipment Inc. announced the completion of the sale of its subsidiaries in France and Belgium to Harris Adacom Corp. of Dallas for $7.7 million. Harris Adacom supplies data communications products and services worldwide. REI said the divestitures are part of a plan to sell assets not related to its focus on document image-processing products. The divested subsidiaries will continue to market and service Recognition's products through distributor agreements.
BUSINESS
June 28, 1989
REI Rejects Offer: Recognition Equipment Inc., battling federal bid-rigging charges, rejected a $78-million takeover bid by a New York investment firm but said the company is in "preliminary stages of negotiation" with several other suitors. The board of Dallas-based REI said the $11-per-share offer by Prospect Group Inc. was "coercive, inadequate and not in the best interests of the company and its stockholders."
BUSINESS
March 31, 1992
TransTechnology Corp. said it has completed the previously announced move of its corporate headquarters from Sherman Oaks to Union, N.J., as part of a restructuring effort. The maker of defense and industrial equipment also said it completed the sale of its Lundy Financial Systems business to Recognition Equipment Inc. for $37.8 million. The proceeds will contribute to a pretax gain of $5.6 million in TransTechnology's fiscal fourth quarter ending today, the company said.
BUSINESS
August 8, 1989 | From Associated Press
Recognition Equipment Inc. has purchased the assets of Plexus Computer Inc. for about $3.8 million and will create a new subsidiary called Plexus Software Inc. "I'm happy we were able to deliver the assets to REI," said James Lindstrom, chief financial officer of Plexus. "If it hadn't happened, there would be no jobs for anyone and no assets to be distributed." Plexus in March laid off 150 of its 200 workers and filed for protection under Chapter 11 of the U.S. Bankruptcy Code.
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