IBC to Buy Outstanding Shares of Denver Company
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IBC/Integrated Business Computers of Simi Valley said it has signed a letter of intent to acquire all the outstanding shares of Integrated Data Systems in a tax-free exchange for shares of IBC stock.
The transaction is subject to approval by IBC stockholders.
If approval is granted, Integrated Data will give IBC $750,000 to pay for current indebtedness, plus proof it can provide an additional $10 million in capital.
IBC is a developer and manufacturer of server systems and related information-technology equipment. The corporation was formed in 1979 and is traded on the Over-the-Counter BB market under the symbol IBCC.
Integrated Data Systems, a privately held company located in Denver, was formed as a research and development affiliate of Resource Technology Corp.
