Telos Agrees to Deal With Contel: Telos...

Telos Agrees to Deal With Contel: Telos Corp., a mid-size technology services company in Santa Monica, said it has agreed in a letter of intent to be acquired by a unit of telecommunications specialist Contel Corp. for about $65 million. The deal, scheduled to close by the end of January, 1990, calls for Contel’s Federal Systems Sector of Chantilly, Va., to pay $16 a share for all of Telos’ 3.86 million shares. The announcement said Telos management is expected to maintain similar responsibilities once the deal is completed. Contel spokesman Brian Farley said he could not comment on whether any Telos jobs would be cut as a result of the deal.