OC drive maker Wangdat jockeying in hot niche. (Orange
auto tape drive maker; acquisition by Rexon Inc.) (Company Profile)ORANGE COUNTY, Calif. -- (by JOHN LONGWELL, ORANGE COUNTY BUSINESS JOURNAL)--Nov. 11, 1991--Wangdat,
an upstart Irvine-based tape drive maker, has gained some new
marketing muscle with its acquisition by Rexon Inc. in Manhattan Beach.
The union sets up Wangdat as a rough equal to its Costa Mesa-based
rival, the Archive Corp., in the emerging market for a new type of tape
drives for computers.
The two Orange County companies, along with Palo Alto-based
Hewlett-Packard, now each has about a fourth of the still small
(estimated at $120 million this year) but burgeoning market for digital
audio tape drives.
Wangdat is being acquired by Rexon for
stock and five-year notes in a deal valued at $12 million, according to
a definitive agreement reached Oct. 28. Venture capitalists have put
more than $8 million into Wangdat since it was launched...