StreamLogic to Acquire FWB’s Hardware Business
StreamLogic Corp., a Chatsworth provider of video delivery and data management systems, has agreed to acquire the hardware business of FWB Inc. in Menlo Park, a developer of computer storage products for multimedia and graphics applications.
The transaction, which is expected to be completed July 1, calls for StreamLogic to pay $5 million, including $2 million in cash and $3 million in assumed debt. It will also issue about 1.25 million shares of its common stock valued at about $8 million.
The deal also includes an investment by StreamLogic in FWB’s software business.