Dynatem Signs Agreement to Acquire San Diego Firm

Dynatem Inc., an Irvine maker of microcomputers and microcomputer-based systems and software, said it has signed a letter of intent to acquire Moore Electro Assembly Inc., a privately held company in San Diego, for $600,000 in cash plus 210,000 shares of Dynatem stock.

Gene Roney, Dynatem’s chief financial officer, said that Moore consists of two divisions--one a contract assembler of computer components and the other a printed circuit maker. He said there would be “no real changes” in the operation of the company, which had unaudited revenues of $2.9 million and earnings of $118,891 for its fiscal year ended June 30. He said that the purchase should be final within five weeks.

This is the first major acquisition for Dynatem, which went public in July. Roney said that Dynatem wants to buy two more companies this fiscal year, which ends May 31, and added that Dynatem has already singled out an unnamed process control firm somewhere in the Northwest.