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Article #582 (635 is last):
From: aa700@cleveland.Freenet.Edu (Michael Current)
Newsgroups: freenet.sci.comp.atari.news
Subject: JTS Announces Sale of Atari Assets for $5 Million
Reply-To: aa700@cleveland.Freenet.Edu (Michael Current)
Posted-By: xx004 (Atari SIG)
Date: Thu Mar 26 13:34:18 1998


Friday March 13, 5:00 pm Eastern Time

Company Press Release

SOURCE: JTS Corporation

JTS Announces Sale of Atari Assets for $5 Million

SAN JOSE, Calif., March 13 /PRNewswire/ -- JTS Corporation (Amex: JTS -
news), announced the completion of the sale of the company's Atari Division
assets to HIACXI Corporation, a wholly-owned subsidiary of Hasbro
Interactive, Inc. (Amex: HAS - news) for $5 million in cash.

``The proceeds from the sale of these non-core assets will be utilized to
support our working capital requirements as we increase our production,''
said Joseph Prezioso, Executive Vice President, Finance and Administration,
and Chief Financial Officer of JTS Corporation.

The Atari Assets were acquired by the company in July 1996 when the company
merged with Atari Corporation and consisted primarily of Atari home computer
games and the intellectual property rights and agreements associated with
such games.

JTS Corporation is a leader in information storage products. The company
designs and manufactures hard disk drives for personal computers, and
markets them to leading systems manufacturers and selected resellers. JTS is
committed to providing world class hard drives at value prices to support
personal computing. The president and chief executive officer of JTS, Tom
Mitchell, was formerly the President and Chief Operating Officer of Conner
Peripherals and Co-founder, President and Chief Operating Officer of Seagate
Technology.

For further information, contact JTS Corporation at 166 Baypointe Parkway,
San Jose, California, 95134. Phone: 408-468-1800 Fax: 408-468-1619. Website:
www.jtscorp.com

SOURCE: JTS Corporation
-- 
Michael Current, mailto:mcurrent@carleton.edu
8-bit Atari FAQ and Vendor Lists, http://www.faqs.org/faqs/atari-8-bit/
Cleveland Free-Net Atari SIG, telnet://freenet-in-c.cwru.edu (go atari)
St. Paul Atari Computer Enthusiasts, http://www.library.carleton.edu/space/





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