Associated Credit Services Inc., Houston, a subsidiary...

Associated Credit Services Inc., Houston, a subsidiary of Computer Sciences Corp., El Segundo, said it has agreed to purchase the credit reporting and collection business of the Merchants Assn. of Indianapolis, Ind. The purchase price was not disclosed.

Separately, Computer Sciences said it received a contract valued at $18.8 million from the U.S. General Services Administration for computer-related support services.

MSH Inc., Los Angeles, said it acquired through a leveraged buy-out Spaulding Fibre Co., Buffalo, N.Y., from Monogram Industries, for $24 million. Monogram is a subsidiary of Nortek, Inc., Providence, R.I.

California Microwave Inc., Sunnyvale, said it received a $14 million in contracts for satellite-earth station equipment for the Army Communications Electronics Command.

Dataspeed Inc., San Mateo, said it agreed in principle with some of its larger investors for a $1.5-million private placement in the form of a 3-year secured senior convertible debenture with zero coupon for the first 24 months, convertible into common stock at $5 a share. Also, the investor group will receive 150,000 warrants to purchase Dataspeed common stock at $10 a share.

Corporate Data Sciences Inc., Santa Clara, said it signed a contract with the Amalgamated Computer Cos. of Guangdong Province, China, to form a joint venture to produce CDS-owned computer technology in China.

Los Angeles-based New El Rey Chorizo, a wholesale and retail manufacturer, was acquired by Joe M. Sanchez and Laura Balverde-Sanchez.

Informatics General Corp., Woodland Hills, said it sold its life insurance systems business to The Continuum Co., Austin, Tex.

Northrop Corp., Hawthorne, said it has been awarded a $48.7-million U.S. Air Force contract to provide guidance units for the new small missiles program.