History (1993): MTI Systems Industries Under Chapter XI

MTI Systems Industries Inc. (Milpitas, CA) or MSI, under Chapter XI, has entered into a letter of intent to merge with MTI Technology Corp.

The transaction, which will provide cash and promissory notes to MSI’s creditors, is supposed to complete by December 31.

MSI is specialized in storage subsystems for DEC environment.

This article is an abstract of news published on the former paper version of Computer Data Storage Newsletter on issue 71, published on December 1993.

Note: Ricoh Acquired MTI Technology in 2020, continuing to operate under existing name as separate entity