El Camino Takes Over Econocom-USA Leases
El Camino Resources Ltd. in Northridge said it acquired most of Econocom-USA’s computer leases for an undisclosed cash price. Both companies lease computer equipment to businesses and other customers.
Econocom-USA, based in Memphis, Tenn., is the U. S. unit of Econocom International N. V., a Dutch concern that has been restructuring in recent years to concentrate on the European market.
El Camino said it would benefit from the merger because Econocom-USA focused on leasing mid-size computers built by International Business Machines Corp., whereas privately held El Camino specializes in leasing and selling IBM’s large-scale, or mainframe, computers.
“The acquisition will more than double El Camino’s current number of leases and equipment,” El Camino President David E. Harmon said in a statement. El Camino’s revenue in its fiscal year that ended April 30 was $255 million.
