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Computer peripherals industry

AmeriQuest Completes Acquisition of Robec, Inc. Through Merger

Strategic Insights

— 2 min read

AmeriQuest Technologies, Inc. has completed its acquisition of Robec, Inc. through a merger, making Robec a wholly-owned subsidiary of AmeriQuest. The merger involved the issuance of 3,969,905 shares of AmeriQuest common stock to Robec's shareholders and the assumption of options held by Robec's employees to purchase 301,978 shares of common stock. This move is expected to enhance the sales and business of the combined company, while providing opportunities for substantial cost savings.

Key Takeaways:

  • AmeriQuest issued 3,969,905 shares of common stock to Robec's shareholders in the merger.
  • The company assumed options held by Robec's employees to purchase 301,978 shares of common stock.
  • Certain principal shareholders of Robec were entitled to receive 2,583,010 additional shares of AmeriQuest common stock, but were issued shares of AmeriQuest preferred stock convertible into common stock instead.
  • The preferred stock carries a stock dividend at an initial rate of 15% per annum.
  • Computer 2000, AmeriQuest's majority stockholder, has agreed to vote its shares in favor of the conversion of the preferred stock and to use its best efforts to cause AmeriQuest to satisfy the other conditions of the conversion.
  • The business combination with Robec is expected to add significant expertise to AmeriQuest's advanced systems group and provide opportunities for cost savings.
  • AmeriQuest is a distributor of computer technology solutions to value added resellers, systems integrators, and computer dealers throughout the United States.
  • The company's product lines include microcomputer systems, peripherals, accessories, and software products.

Statistics:

  • 3,969,905 shares of AmeriQuest common stock were issued to Robec's shareholders in the merger.
  • 301,978 shares of common stock were assumed by AmeriQuest through the transfer of options held by Robec's employees.
  • 2,583,010 additional shares of AmeriQuest common stock were entitled to principal shareholders of Robec, but were issued in the form of preferred stock instead.
  • The preferred stock carries an initial stock dividend rate of 15% per annum.
  • Computer 2000, the majority stockholder of AmeriQuest, has a significant sales volume of over $2.45 billion as part of the Computer 2000 Group in the fiscal year ended September 30, 1994.
  • The group is expected to achieve revenues of approximately $3.5 billion in the fiscal year ended September 30, 1995.

Sources:

  • "AmeriQuest Technologies, Inc. Completes Acquisition of Robec, Inc. Through Merger" (PRNewswire, November 13, 1995)
  • "Computer 2000 Group Reaches Sales Volume of Over $2.45 Billion in Fiscal Year Ended September 30, 1994" (Source not explicitly stated)

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