San Diego Firm Acquires 94% of ASIC Stock

A San Diego company said Thursday it has completed its acquisition of 94% of the shares of semiconductor manufacturer California ASIC Technical Services Inc.

California ASIC received $2.7 million in common stock of JMAR Industries Inc., which plans to operate the Irvine company as a division. JMAR, which develops and manufactures systems to improve productivity for the microelectronics and medical industries, also agreed to loan $1.5 million to California ASIC over the next 18 months for facility expansion and working capital.