Tech Bytes: Anacomp Purchases N.J. Software Firm

Anacomp Inc., a document management company, bought Cambridge Technology Group Inc. Terms of the deal were not disclosed.

Cambridge Technology, East Brunswick, N.J., sells multicurrency accounting software. It also provides global custody processing and trust accounting services.

Anacomp sells imaging and document retrieval systems and has about 15,000 customers globally. The majority of its customers are financial institutions.

Anacomp plans to develop imaging applications for Cambridge Technology's systems.

Cambridge Technology's software, called Spar, is used by Toyo Trust Co., New York, and by Dai-Ichi Kangyo Bank, Luxembourg.

Anacomp had $460 million in annual revenues during fiscal 1996. Cambridge Technology has about $2 million in annual revenues.

Fred Erdberg, a founder of six-year-old Cambridge Technology, said a combined company would be able to provide better customer support, thereby addressing a key concern of many potential customers.

Cambridge's main competitor is SunGard Data Systems Inc., Mr. Erdberg said.

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