Appoint Technologies Agrees to Purchase AMT International


Appoint Technologies Inc. said it has agreed to purchase AMT International Industries Inc. in Huntington Beach in a stock and debt-assumption deal.

Terms of the purchase, which must be approved by shareholders of both companies, call for Appoint to issue 1 million new shares of its stock to AMT shareholders and to assume $1.3 million of privately held AMT debt.

Both companies produce computer products.

Publicly traded Appoint Technologies, based in Anaheim, is the holding company for Appoint Inc. of Paso Robles and Standard Logic Inc. of Anaheim. Appoint Inc., which has 52 employees, designs, manufactures and markets computer mouse products for IBM-compatible and Apple Macintosh desktop and portable computers. Standard Logic, with 12 employees, produces circuit boards and software.

AMT's products are made for use with personal computers in business and industrial applications, including a new line of credit-card sized modems for use with laptop personal computers.

Acquisition of AMT, which has 40 employees, will increase Appoint's offerings to the computer peripherals market, said Joseph C. Picken, president and chief executive of the holding company.

In Monday's NASDAQ trading, Appoint's common stock closed unchanged at 75 cents a share.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World