Irvine-based Computer Automation has agreed to acquire...

Irvine-based Computer Automation has agreed to acquire Talon Technology of Richardson, Tex., in an exchange of stock between the two computer companies. Computer Automation’s stock, which is traded over-the-counter, fell $1.375 to $10.625 after the announcement on Friday. Computer Automation said it will issue 117,000 shares of common stock for all of Talon’s stock. At Friday’s closing price, the transaction would have an approximate value of $1.24 million. Under terms of the deal, the Irvine computer products manufacturer may issue additional stock to Talon, depending on the Texas company’s financial performance in 1989. Talon manufactures communications, data transmission and microcomputer equipment for the defense, petroleum and communications industries. Talon has annual sales of less than $1 million, a Computer Automation official said.