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REpipeline Takes Back Road To Public Status

SUNNYVALE, CA-The Dallas-based online commercial real estate services company recently completed a reverse merger with Sunnyvale based Photonics Corp., and all but defunct manufacturer of computer peripherals. Photonics shareholders will own 15% of the new company.

By Allison Landa | Updated on November 30, 2000

SUNNYVALE, CA-The Dallas-based online commercial real estate services company REpipeline.com this week announced it has gone public via the back door by scooping up the all but defunct Photonics Corp. based here in Sunnyvale.

Formerly known as Data Technology Corp., Photonics was a manufacturer of various computer peripherals including keyboards. In 1994, it boasted $400 million in sales, but took in the late ’90s it began falling and never recovered as computers and their accessories grew drastically more common and less expensive. At last report, the company consisted of two employees and not much else, which would account for its share price of about 12 cents. In other words, it was ripe for a reverse merger by REpipeline.

“We felt to be able to be a good accumulator of assets, aggregating products together in one site, we really needed to be public,” REpipeline Chief Finance Officer Chip Langston tells GlobeSt. “So we started discussions in the spring about merging with Photonics in order to fast-track our public exposure…. Photonics is public, and we’re now part of Photonics.”

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