Hialeah, FL--May 22, 1997--Techdyne Inc. (Hialeah, FL) announced that it has signed a letter of intent to acquire Lytton Inc., a private company engaged in electronics manufacturing. The transaction is for an undisclosed number of shares of Techdyne plus cash, and Techdyne's guarantee of a fixed sum based on the pre-tax earnings of the acquired company. Techdyne will also pay a percentage of Lytton's sales that exceed certain goals over the next three years.
The acquisition is subject to the execution of a definitive agreement, approval by the boards of both Techdyne and Lytton, and certain contingencies.
Lytton is engaged in the manufacture and assembly of printed circuit boards and other electronic products for commercial customers. Lytton's sales totaled in excess of $16.0 million for the fiscal year ended March 31, 1997.
2230 West 77th St.
Hialeah, FL 33016
Return to Headlines