Comverse to buy rival in stock swap
Article Abstract:
Comverse Technology has acquired voice-messaging equipment competitor Boston Technology in a stock swap currently valued at $845.2 million, or $30.96 a share. The accord furthers consolidation among companies that supply telephone companies with voice-mail systems. Lucent Technologies in July 1997 purchased Octel Communications for $1.8 billion. Terms of the Comverse Technology-Boston Technology deal call for Boston Technology to exchange each share for 0.65 share of Comverse Technology. Around 59% of the combined company will be owned by Comverse shareholders, upon completion of the acquisition. Comverse sells products primarily to European wireless telephone companies, while Boston Technology has been expanding its sales with traditional North American wire-line phone providers.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1997
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Chrysler's Intranet: Promise vs. Reality
Article Abstract:
Chrysler is finding that its year-old intranet is a fast, convenient and inexpensive way for mangers to monitor projects, pass information on to their employees and decrease the amount of time spend doing data searches or shuffling paper. The company's intranet provides links between the numerous PCs, workstations, mainframes and supercomputers, making a completely new computer system unnecessary. Chrysler is still having problems in certain areas with communication. They are now posting 'action letters' on the system and also sending an electronic mail alert to the employees who need the information. Security is an important consideration for Chrysler. The company is leery of posting personal information, such as employee 401K plans on the intranet.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1997
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Donald Reed resigns posts of president, CEO of Cabletron Systems
Article Abstract:
Cabletron Systems Pres and CEO Donald B. Reed resigned from both posts, and will be succeeded by company chmn and co-founder Craig R. Benson. Reed, who joined the struggling computer-networking manufacturer in Aug 1997, will become a consultant to the company and retain his membership on its board of directors. Cabletron has sagged because its corporate customer base continues to shift rapidly to high-speed switched systems that require new types of components. The company's 4th qtr 1998 ended Feb 28, 1998, listed a first-ever loss of $6.3 million before a charge of four cents a share, on revenue of $311.5 million. By comparison, Cabletron earned $72.6 million before charges, or 45 cents a share, on revenue of $380.5 million for the 4th qtr 1997.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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