Irvine Sensors to Buy Cube Plant From IBM
COSTA MESA —
Irvine Sensors Corp. said it has agreed to acquire an assembly plant in Vermont that had been the site of a joint venture between Irvine Sensors and IBM Corp.
The plant makes cubes--stacks of computer chips that take up less space than traditional chips--and was built as part of an alliance that IBM and Irvine Sensors entered into in 1992. The terms of the acquisition of the plant from IBM were not disclosed.
The deal also calls for Irvine Sensors to build cubes for IBM through 1998. To complete the transaction, Irvine Sensors must pay IBM for the plant within 90 days.
John J. Stuart Jr., chief financial officer at Irvine Sensors, said the company is “engaged in negotiations to close the necessary financing for acquisition of the cube line.”
