Compact Connection Purchased
SANTA ANA —
A Florida company said Thursday that it has signed a definitive agreement to acquire Compact Connection Inc., a wholesaler of compact discs and cassette tapes.
The purchase by TeleServices International Group Inc. in St. Petersburg is valued at $15 million.
TeleServices said that Compact’s earned $1.4 million last year on $14 million in sales. Compact has 200 distributors and 1.5 million customers.
The Florida company said that Compact has projected earnings this year of $3.5 million on sales of more than $35 million and that it expects its client base to grow to more than 10 million in the next two years.
