Corona Data Agrees to Sell Stake in Firm to Investor
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Corona Data Systems, a Thousand Oaks-based computer manufacturer that has struggled to find financing, confirmed that it has reached an agreement to sell a stake in the company to an unidentified investor.
Sources close to Corona, which is privately held, said company officials have indicated that the investor is a Korean company. They speculated that the company is Daewoo, a conglomerate that does much of Corona’s manufacturing.
Daniel R. Carter, Corona’s president, would not reveal how large a stake of Corona would be sold, but said the transaction would not be a complete acquisition of the company.
Corona, a 4-year-old company that reported record sales of $64 million in the fiscal year ended last Sept. 30, employs 210 workers.
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