Monroe Division of Litton Industries to Become Exclusive Distributor of Compucorp Calculators
This article announces an
agreement forged on August 2, 1974, stating that the Monroe
(Calculating Machines) division of Litton Industries shall become the sole
distributor of Compucorp calculators, now to be sold only under the Monroe
brand in the US & Canada, with the shutdown of all domestic marketing and
sales of Compucorp-branded calculators. The result of this is that
most of Compucorp's sales and service personnel would move into Monroe's
sales and service organization. Monroe's service organization would provide
on-going service for calculators previously sold under the Compucorp brand.
Computer Design Corporation, the design and manufacturing parent of
Compucorp, would continue to develop and manufacture electronic
calculating equipment, as it had been for Monroe for since the early
part of 1970. Compcorp would also terminate all OEM relationships that had
been established, which included Sumlock, SCM, Deitzgen, and Seiko.
In return, Litton placed an order with Compucorp for $13M
worth of calculators to be sold exclusively through Monroe's
sales network world-wide under the Monroe brand. Along with these actions
Litton acquired approximately 24% of Compucorp's outstanding common stock
and provided $1.4M in equity funding (in addition to $1M provided a month
earlier). This funding would help capitalize the expenditures necessary
to manufacture the calculators that Litton ordred, as well as to pay
down certain debts that the Compucorp division of Computer Design Corporation
While Compucorp continued to exist as a business entity once this deal was closed, all that remained was a tiny shell of what it had been, with a number of folks that were investigating other types of business systems that the company could potentially develop and market. These investigations eventually lead to the development of Word Processing equipment that used Computer Design Corporation's advanced large-scale integration processor chipset that served as the basis for its calculators, but with new microcode and additional storage to allow the chips to perform word processing functions.