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Beny Alagem, the co-founder and former chief executive of Packard Bell, said Sunday that he has purchased a subsidiary of Samsung Electronics to create a new Internet-driven company geared toward small and medium-size businesses.
Alagem bought Irvine-based AST Research Inc., a U.S. subsidiary of the South Korean electronics giant, for an undisclosed sum. Sunday's deal gives him ownership of the AST brand name as well as an exclusive license to the company's intellectual property portfolio.
The new company, to be named AST Computers, will be based in Los Angeles and will develop personal and laptop computers, monitors...