HONG KONG'S FIRST PACIFIC BUYS CALIFORNIA TELECOM FIRM

HONG KONG'S FIRST PACIFIC BUYS CALIFORNIA TELECOM FIRM

The First Pacific group, a banking-to-shipping conglomerate, is buying a California-based telecommunications company for an undisclosed price in yet another new area of business.

Tsunami Technologies Corp. of Sunnyvale will be acquired jointly by First Pacific International Ltd. and F.P. Special Assets Ltd. Tsunami will be rechristened First Pacific Networks.The company was formerly owned by Southwestern Bell Corp. of St. Louis, which was forced by federal rulings to divest some of its holdings.

Tsunami was purchased then by its founder, Donald Marquart, and other managers.

The First Pacific deal includes Tsunami's assets and some liabilities relating to Southwestern Bell's previous equity injection, officials of the Hong Kong-based company said Monday.

Thomas Yasuda, a director of First Pacific, will be chairman and Mr. Marquart president and chief executive of the company.

Its primary focus will be marketing of Tsunami's telecommunications system, which allows simultaneous transmission of voice, data and video.

Among its other applications is the linking of computer work stations or personal computers and the provision of information services to homes or other sites on the same cable used for cable television.

We have invested in a company that owns a revolutionary product on the cutting edge of communications technology, said First Pacific official Robert Meyer.

Sources indicate the group intends further expansion into the telecommunicati ons sphere in the near future, though the company won't yet comment on its plans.

First Pacific International is the trading and consumer products arm of the group, which includes Hagemeyer NV of Holland, a commodity and shipping firm.

Hagemeyer acquired 80 percent of St. Louis-based GPX Inc., a consumer electronics maker, in 1986.

The other wing is First Pacific Holdings Ltd., the financial services branch, which owns United Savings Bank of San Francisco and is about to dispose of Hibernia Bank there.