Firm Trades All Shares of Digitext to Investor

A Rhode Island investor has acquired a 14.6% stake in Digitext that had been owned by Service Resources Corp. of New York. Digitext is a Thousand Oaks maker of keyboards used in rapidly entering text into computers.

The investor, Thomas L. DePetrillo, acquired the 700,000 Digitext common shares and 30,000 shares of Digitext’s class A common shares in exchange for 52,366 series A preferred shares of Service Resources, according to a filing with the Securities and Exchange Commission. The Digitext class A shares have no voting privileges.

The stock swap ended Service Resources’ interest in Digitext. Recently, three Service Resources executives resigned from Digitext’s board and were replaced by DePetrillo and two others. Service Resources is a word processing and financial documents concern.