Investment Group Boosts Computer Memories Stake

A New Jersey investment group has raised its stake in Computer Memories, a former Chatsworth computer parts maker, to 26.5% from about 25.3%.

The group, Sun Equities, is seeking to find a merger partner for the company after successfully opposing two separate plans to merge Computer Memories with entertainment firms Hemdale Film of Hollywood and DIC of Burbank.

Although it has no ongoing business, Computer Memories is considered an attractive merger candidate because it is a public company and has about $24 million in cash raised by selling its assets.