History (1996): Legacy Storage Systems International Purchases Rexon

Legacy Storage Systems International (Toronto, ONT, Canada) has entered into a definitive agreement to purchase the business of Rexon (St. Petersburg, FL) and its subsidiaries, including, to the extent possible, the purchase of all shares of a reorganized Rexon.

The price is approximately $27 million. This transaction is subject to approval by US Bankruptcy Court of the District of Colorado and is anticipated to be completed by March 1.

This article is an abstract of news published on the former paper version of Computer Data Storage Newsletter on issue 96, published on January 1996.

Note: In 1997, Legacy changed its name to Tecmar Technologies International (TTIntl). In 2000, the assets of TTInc were sold to Overland Data, but as of 2007, the Tecmar, WangTek, and WangDAT brands were no longer in use.