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Memory Corp buys out Datrontech memory business

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Memory Corp has mopped up Datrontech’s minority stake in their joint venture company DTEC Memory Corp. The Scottish memory designer is paying £1.75 million in cash for Datrontech’s 49 per cent stake in the DRAM distributor. It will also repay loans made by Datrontech to DTEC amounting to £0.72 million, on December 31, 2001. The company is funding the deal through a $4 million share placing, which is expected to get shareholder approval on Monday, 29 March. The ties between the two companies are not entirely cut. Datrontech will pay £500,000 for the rights to licence Direct Rambus DR-RIMM technology from Memory Corp. Memory Corp is one of two European companies with rights to sub-licence Direct Rambus technology. Mark Doughty, MemCorp finance director, said the company had a lead on Direct RAMBUS rivals, but declined to name a date beyond ... "it should before the end of the year"... for the launch of MemCorp branded product Memory Corp is paying Datrontech for support services, relating presumably to DTEC’s continued tenure in Datrontech’s Basingstoke heaquarters. In the year ended 31 December 1998, DMC made an unaudited profit before tax of £0.18 million on turnover of £47.2m. As at 31 December 1998, the net tangible assets of DMC were £0.32m. DTEC Memory Corp comprises three former Datrontech businesses; Memory Plus, a bespoke assembler based in Wiltshire; DMC, in Basingstoke, a high volume memory trader; and Datrontech Hong Kong, a memory buying operation. Doughty said the DTEC distribution business "bulks us up… it gives us critical mass with our customers, especially with European OEMs". Memory Corp swapped stock exchanges last year, moving from AIM, the UK junior market, to Brussels- based Easdaq. Memcorp's Easdaq share trading volumes are three times higher than on AIM. MemCorp's opening Easdaq share price was $11.20 and now stands at $15.75 (equivalent to 28p and 42p for the company’s AIM-listed shares). It now has six market makers and four analysts tracking the stock, against one analyst checking out the company when it was on AIM, according to Doughty. ®

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