Bristol Research of Costa Mesa to Buy Controlling Interest in Utah Company : SCIENCE / TECHNOLOGY

General Display, a Utah-based company, will become the controlling owner of Bristol Research Corp., a small Costa Mesa computer firm, under a merger agreement announced by the two firms on Monday.

Bristol said it has signed a letter of intent to acquire General Display, a Salt Lake City manufacturer of electronic signs and displays for shopping centers, theme parks, sports arenas and other businesses, in a stock transaction valued at about $7 million.

Under terms of the deal, Bristol will issue 4 million shares of common stock to General Display. Bristol and General Display also plan to offer for sale to the public between $6 million and $8 million of Bristol stock to help defray the costs of the merger.

If the transaction is completed, General Display will hold nearly 50% of Bristol’s common stock, Bristol officials said.

General Display’s chairman, Emanuel A. Floor, will become chairman and chief executive of Bristol. He replaces former Bristol Chairman Max Malone, who resigned those positions in mid-July.

“The merger of Bristol and General Display will bring together strong electronic-related product development,” Floor said in a statement. “The combined operations will provide significant benefits to both companies and allow each, operating as separate divisions, to increase their markets and product lines.”