PerfectData Bids $40 Million for Novaquest InfoSystems

PerfectData Corp. in Simi Valley has made a bid to acquire Novaquest InfoSystems for $40 million in cash and stock.

Novaquest, based in Torrance, is a privately held company whose revenue exceeded $172 million in 1996 and is on course to exceed $200 million in the current fiscal year.

Novaquest resells microcomputer products and services to Fortune 1000 corporations and government institutions. It specializes in reselling IBM, Hewlett-Packard, Compaq, Microsoft and Toshiba products.

PerfectData officials say the combination of their company and Novaquest will create a major force in the computer industry, especially with regard to Internet services.

“This acquisition will fit perfectly with PerfectData’s Internet operations and computer peripherals,” said Joseph Mazin, PerfectData’s chief executive.

PerfectData plans to make additional acquisitions for accelerated growth and expects to exceed $400 million in revenue in 1998.

PerfectData also announced that a revised offer by the Polak Investment Group of $6.05 per share in cash and preferred stock for 40% of the outstanding shares of PerfectData has been rejected.

PerfectData designs and markets computer, office care and maintenance products and accessories.