Computer leasing firm leaving LV

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Wednesday, Sept. 29, 1999 | 10:38 a.m.

The corporate musical chairs played by three companies will result in a computer leasing company leaving Las Vegas.

LEC Technologies Inc. will close its Las Vegas operation Friday after agreeing to sell its assets to Somerset Capital Group Ltd. of Bridgeport, Conn.

Earlier this year, LEC retained New York-based JP Turner & Co. to negotiate the sale of its publicly traded computer leasing and sales subsidiary. The company negotiated a deal to sell the company to Golf Entertainment Inc., a private company desiring to go public, and spun off the computer business as a private corporation.

Somerset acquired the computer business assets and bank debt for $3.6 million and will move the operation to Connecticut.

The 12 employees of LEC's Las Vegas office were laid off and not offered new positions, said Golf Entertainment Inc. Chief Executive Ronald Farrell.