March 21, 1997 6:30 PM ET
Olicom buys CrossComm
By Margaret Kane

  Olicom S/A has agreed to acquire CrossComm Corp. in a deal worth at least $46.5 million.

Officials at Olicom, based in Copenhagen, Denmark, said it will take a charge in the second quarter to write off in-process R&D; costs and acquisition-related charges.

Olicom, which makes Token-Ring and ATM (asynchronous transfer mode) internetworking products, said its line would work well with CrossComm's SNA, routing and ATM network products.

Olicom has been investing in ATM and Token-Ring switching technology over the past two years, and the CrossComm acquisition "will accelerate our concerted efforts into these high growth markets by at least 18 months," said Olicom CEO Lars Nielsen.

Tad Witkowicz, CEO of CrossCom, in Marlborough, Mass., will be nominated for Olicom's board of directors and will serve as a consultant to the company, officials said.

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