General Automation Inc.: The company said Thursday...

General Automation Inc.: The company said Thursday that it will swap stock it holds in an Australian company with a British partner in return for stock the British firm owns in General Automation and $2 million.

Under the agreement, which must be approved by General Automation’s shareholders, the Anaheim company will exchange the 470,000 shares of stock it owns in SGA Pacific Ltd. for 4.1 million shares of General Automation held by Sanderson Technology Ltd. of Sheffield, England, plus $2 million in cash and interest-bearing notes.

All three companies develop and distribute computer hardware and software systems for operating libraries, hotels, gas companies and similar service organizations. Robert Bagby, General Automation’s president, said that the deal will enable his company to concentrate on more local projects and that General Automation may invest the money in its distribution operations or use it to acquire another firm.