Business Services Industry
Larson-Davis receives $4.5 million in funding commitments
Business Wire, Oct 11, 1995
PROVO, Utah--(BUSINESS WIRE)--Oct. 11, 1995--Larson-Davis Inc. (NASDAQ:LDII) Wednesday announced new sources of funds for its newly consolidated business operations.
According to Brian G. Larson, chief executive officer of Larson-Davis: "Wall Street has demonstrated a significant level of enthusiasm for company growth potentials with both CrossCheck and the recent efforts to acquire Sensar and related patents, with a major and timely commitment for new growth capital.
"The new funds totalling $4.5 million will be used to expand the core business of the company around the world and to develop several new product families.
"Through its proposed acquisition of Sensar, a new generation of mass spectrometers and capillary electrophoresis systems are also being funded by the EPA, the state of Utah and by SBIR research grants directed to the Sensar/BYU development teams." -0-
NOTE TO EDITORS: See related story regarding new patents for a more detailed discussion of potential products and markets.
CONTACT: Corporate Relations Group, Los Angeles
Neil C. Sullivan, 310/551-5261
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