Oak-Datum Agreement on Sale Is Terminated

Oak Industries and Anaheim-based Datum Inc. have terminated an agreement that called for Datum to purchase Oak’s Whitby, Ontario-based Croven Crystals division.

Datum Chairman Louis Horwitz said the agreement was scuttled because Datum found it would be unable to increase Croven’s sales at a sufficient rate to justify acquisition costs. Oak and Datum never revealed a purchase price.

One analyst suggested that the deal may have fallen apart because of changes in the U.S.-Canadian exchange rate.

Oak likely will continue to try to sell the Croven Crystals division, according to Oak spokeswoman Mary Lou Coburn. San Diego-based Oak had acquired Croven in April when it purchased all of the stock of New York-based Electronic Technologies Inc.

Datum agreed in May to purchase all the outstanding stock of Croven Crystals, a manufacturer of high frequency quartz crystals used in commercial and military applications.

Datum manufactures precision frequency products and timing instrumentation and Oak manufactures electronic components and controls, and cable and satellite communications equipment.