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.page-content{padding-left:0;padding-right:0}}.focus-toggle-tooltip{background-color:var(--primary-body-link-color);border-radius:5px;box-shadow:2px 2px 20px rgba(0,0,0,.3);color:var(--primary-text-color-inverse);font-family:arial,"helvetica neue",helvetica,sans-serif;font-size:1rem;font-style:normal;font-weight:400;line-height:1.25rem;opacity:1;padding:20px 40px 20px 20px;top:50px;transform:translateX(-50%);transition:all .6s ease-out;visibility:visible;width:260px}.focus-toggle-tooltip-close{color:inherit;right:10px;top:10px}.focus-toggle-tooltip-close .icon{width:14px}.focus-toggle-tooltip:before{border-bottom:8px solid var(--primary-body-link-color);border-left:8px solid transparent;border-right:8px solid transparent;content:"";height:0;left:50%;margin-left:-10px;position:absolute;top:-8px;width:0}.focus-toggle-tooltip.fade-out{opacity:0;visibility:hidden} </style> <meta name="viewport" content="width=device-width,initial-scale=1"><title>PhoneMate Inc. has agreed to be acquired... - Los Angeles Times</title><meta name="description" content="PhoneMate Inc. has agreed to be acquired by its Tokyo-based supplier Asahi Corp. for about $8.2 million in cash."><link rel="canonical" href="https://www.latimes.com/archives/la-xpm-1989-02-17-fi-2967-story.html"><meta name="brightspot.contentId" content="00000169-987c-d37a-a1ff-9c7f5d6e0000"><link rel="apple-touch-icon" sizes="180x180" href="/apple-touch-icon.png"><link rel="icon" type="image/png" href="/favicon-32x32.png"><link rel="icon" type="image/png" href="/favicon-16x16.png"><script id="head-dl">var dataLayer = {"primarySection":"00000168-8672-d2cb-a969-de7a41150000","rootId":"","pageTitle":"PhoneMate Inc. has agreed to be acquired... - Los Angeles Times","publishDate":"02-17-1989 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Times Archives</div> </div> <time datetime="1989-02-17T08:00:00.000Z" class="published-date"><span class="published-date-day">Feb. 17, 1989 </span><span class="published-time">12 AM PT </span></time></div> <div class="page-actions"> <ps-actionbar class="action-bar"> <ul class="action-bar-menu"> <li> <a class="action-link" data-modal-trigger href="#"><svg class="icon share-arrow-icon"><use xlink:href="#share-more-arrow"></use></svg><span>Share</span></a> </li> </ul> <div class="action-bar-content ct-hidden"> <div class="action-bar-overlay" data-modal-close></div> <div class="action-bar-modal"> <div class="action-bar-modal-header"> <span>Share via</span> <button class="button close-button" data-modal-close><svg class="icon close-icon"><use xlink:href="#close-x"></use></svg><span class="visually-hidden">Close extra sharing options</span></button> </div> <ul class="action-bar-modal-menu"> <li><a class="action-link" href="mailto:?body=PhoneMate%20Inc.%20has%20agreed%20to%20be%20acquired...%0A%0Ahttps%3A%2F%2Fwww.latimes.com%2Farchives%2Fla-xpm-1989-02-17-fi-2967-story.html%0A%0APhoneMate%20Inc.%20has%20agreed%20to%20be%20acquired%20by%20its%20Tokyo-based%20supplier%20Asahi%20Corp.%20for%20about%20%248.2%20million%20in%20cash.%20" data-social-service="email" data-social-trigger="actionBar" target="_blank"> <svg class="icon email-icon"><use xlink:href="#mono-icon-email"></use></svg><span>Email</span> </a> </li> <li> <a class="action-link" href="https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fwww.latimes.com%2Farchives%2Fla-xpm-1989-02-17-fi-2967-story.html" target="_blank" rel="noopener noreferrer" data-social-service="facebook" data-social-trigger="actionBar"> <svg class="icon facebook-icon"><use xlink:href="#mono-icon-facebook"></use></svg><span>Facebook</span> </a> </li> <li><a class="action-link" 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href="https://api.whatsapp.com/send?text=PhoneMate%20Inc.%20has%20agreed%20to%20be%20acquired...%20https%3A%2F%2Fwww.latimes.com%2Farchives%2Fla-xpm-1989-02-17-fi-2967-story.html" target="_blank" rel="noopener noreferrer" data-social-service="whatsapp" data-social-trigger="actionBar"> <svg class="icon whatsapp-icon"><use xlink:href="#mono-icon-whatsapp"></use></svg><span>WhatsApp</span> </a> </li> <li> <span class="action-link" data-social-service="copylink" data-social-trigger="actionBar" data-href="https://www.latimes.com/archives/la-xpm-1989-02-17-fi-2967-story.html"><svg class="icon copy-link-icon"><use xlink:href="#mono-icon-copylink"></use></svg><span>Copy Link URL</span><span data-copied-text>Copied!</span></span> </li> <li> <span class="action-link" data-social-service="print" data-social-trigger="actionBar"><svg class="icon print-icon"><use xlink:href="#mono-icon-print"></use></svg><span>Print</span></span> </li> </ul> </div> </div> </ps-actionbar> </div> <div data-element="story-body" class="ct-rich-text-children font-body font-normal text-lg leading-7.75 text-primary-text-color clearfix mb-10 md:max-w-170 md:mx-auto" data-subscriber-content> <p>PhoneMate Inc. has agreed to be acquired by its Tokyo-based supplier Asahi Corp. for about $8.2 million in cash. Asahi, a consumer electronics company and parts supplier that currently owns 1.1 million shares of PhoneMate, or a little more than 50% of the company, will purchase the remaining 1.1 million public shares of the Torrance-based firm for $7.50 a share. PhoneMate is a leading designer and marketer of telephone answering machines.</p><div class="enhancement" data-click="enhancement" data-align-center > </div> </div> </article> <div class="tags"> <a class="link" href="https://www.latimes.com/business/technology">Technology and the Internet</a><a class="link" href="https://www.latimes.com/business">Business</a> </div> <div class="bylines"> </div> <div class="page-content-footer" data-click="contentFooter"><ps-connatix-module data-fetch-offset="1.25" data-integration-script="!function(n){if(!window.cnx){window.cnx={},window.cnx.cmd=[];var t=n.createElement('iframe');t.src='javascript:false'; t.display='none',t.onload=function(){var n=t.contentWindow.document,c=n.createElement('script');c.src='//cd.connatix.com/connatix.player.js?cid=87b4f8ff-3ecb-4d03-9754-0c59c3121f22',c.setAttribute('async','1'),c.setAttribute('type','text/javascript'),n.body.appendChild(c)},n.head.appendChild(t)}}(document);"> <div class="connatix-wrapper" style="min-height: 495px;" > <div class="connatix" data-customer-id="87b4f8ff-3ecb-4d03-9754-0c59c3121f22" data-player-id="5fff2aa5-02d5-4d8a-9635-e04eb729fc9b" data-story-id="458926d2-fd6a-4051-8bce-677d0cd2e280" > </div> </div> </ps-connatix-module> <div class="list list-d list-spacer-bottom" data-list-id="0000016a-0e34-dffa-a76b-3f7fae860002" data-module-id="0000016a-0e34-dffa-a76b-3f7fae860002"> <div data-element="element-header" data-click="liDListTitleCTA" class="!pb-0 border-solid pt-4.5 border-0 border-t-2 border-t-color-black "> <h3 class="mb-5 p-0 font-serviceblack text-2xl leading-6.5" data-element="element-header-title" data-counter="4">More From the Los Angeles Times </h3> </div> <ul class="list-menu list-d-menu" > <li data-click="liD0promoSmall"> <ps-promo class="promo promo-position-small promo-small" data-module-id="00000193-6b98-d3b4-affb-6fdbc7c70000" data-promotable-id="00000193-3e96-d05c-a1d7-bf9674d70000" data-content-type="article" data-show-img data-left-center > <div class="promo-wrapper"> <div class="promo-media"><a class="link promo-placeholder" href="https://www.latimes.com/entertainment-arts/business/story/2024-11-22/donald-trump-bytedance-tiktok-biden" aria-label="Trump wanted to ban TikTok. 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