Datum Agrees to Acquire San Jose Manufacturer

Datum Inc. said Tuesday that it has reached an agreement for the acquisition of Bancomm Corp., a privately held, San Jose-based manufacturer of time measuring equipment.

Although the Anaheim-based company declined to disclose how much it will pay for Bancomm when the deal closes this month, Louis B. Horwitz, Datum’s president, said, “We have $4.5 million in the bank, but it won’t dent that seriously.”

Horwitz, who described Bancomm as a “minor competitor,” said the San Jose firm, which currently has six employees, is expected to account for about 5% of Datum’s anticipated $20 million in 1986 sales.

Although Datum’s results for 1985 have not been released, the maker of precision timing instruments posted net income of $623,000 on revenues of $13.8 million during the first nine months of the year. Bancomm’s sales for 1985 totaled $870,000.