DDL to Take Over Company in Florida

DDL Electronics in Newbury Park has signed an agreement to acquire Jolt Technology, a Fort Lauderdale, Fla.-based electronic manufacturing services provider, for 9 million common shares.

DDL officials said the acquisition is expected to boost company earnings.

DDL, which also provides design and electronic manufacturing services, reported a loss of $1.7 million, or 7 cents a share, on revenues of $49 million for the fiscal year that ended June 27, 1997.

Jolt, founded in 1989, specializes in the fast production of high-end commercial electronic assemblies for original equipment manufacturers in the medical devices, instrumentation, computer and telecommunications industries.

DDL said the acquisition is part of its strategy to acquire small- and medium-size manufacturers specializing in highly complex electronic assemblies in areas where there is a concentration of original equipment manufacturers. The acquisition is subject to approval by DDL’s stockholders.