Oakleaf to be Acquired by Convergent Technologies
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Chatsworth-based Oakleaf Corp. agreed in principle to be acquired by Convergent Technologies, a San Jose computer company, for an undisclosed price, the two companies said.
Founded in 1973, privately held Oakleaf makes computer systems for auto dealers. It had 1986 sales of about $26 million, and there have been over 8,000 Oakleaf systems installed nationwide, the company said.
Last August, publicly held Convergent Technologies acquired Display Data Corp., another leading supplier of computer systems for auto dealers. Display Data specialized in accounting, inventory management and service-department systems, whereas Oakleaf specializes in finance, insurance and leasing systems.
Convergent spokesman Bill Bennett said Oakleaf will remain in Chatsworth, and that no management changes are planned. Oakleaf, which has 135 employees in Chatsworth, is run by its founder and president, Anders B. Eklov.
Eklov, Bennett said, is Swedish for oak leaf.
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