Bridge Technology Buys 70% of CMS Assets

Bridge Technology Inc., a Garden Grove computer peripheral products company, said Tuesday that it has agreed to acquire up to 70% of the assets of CMS Technology Limited in Hong Kong for $7 million cash, along with the first right of refusal to acquire the remaining 30%.

The price is payable in two installments. Half was paid Monday, and the rest will be paid Feb. 1. CMS, an exclusive IBM distributor for China, posted $50 million in revenue in 1999.

Bridge Technology’s stock fell 63 cents a share to close at $14 in over-the-counter trading.