JMAR Industries to Buy California ASIC

IRVINE — JMAR Industries Inc. said it has signed a letter of intent to acquire Irvine-based California ASIC Technical Services Inc. for about $2.82 million in stock.

California ASIC is a manufacturer of semiconductor chips for the electronics industry and has had annual sales of less than $1 million in recent years, officials said. JMAR, based in San Diego, which makes testing equipment used by semiconductor manufacturers, had sales of $9.25 million through the first three quarters of 1995.

John S. Martinez, chief executive of JMAR, said the operations of California ASIC are “highly complementary to our existing activities.”