Software maker seeks services concern in $8.4 billion bid
Article Abstract:
Computer Associates International offered to acquire technology services provider Computer Sciences for $8.4 billion. The unsolicited bid by Computer Associates would mark the largest of about 60 acquisitions since Charles B. Wang founded the business software vendor in 1978. The proposed deal also would continue a computer industry trend that emphasizes size for survival. Compaq, for example, acquired DEC for $9.6 billion two weeks ago. Both moves follow an IBM rebound and the surge in computer services. Companies like Computer Sciences have become corporate consultants, gaining access to top executives. Aggressive job cuts have followed many Computer Associates International mergers, but Wang said no such move would take place at either company because of their different businesses. Many analysts believe the Computer Associates offer, equal to $108 a share in cash, represents an opening bid.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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Trying to revive itself, E.D.S. lures chief from Cable and Wireless
Article Abstract:
Electronic Data Systems (EDS) hired Cable and Wireless CEO Richard H. Brown to lead the computer-services company effective Jan 15, 1999. Brown has drawn credit for widening the London-based Cable and Wireless' international presence through cost reductions and management shuffling. A key move included Cable and Wireless' $1.75 billion acquisition of MCI's Internet operations in summer 1998. The 51-year-old New Jersey native will succeed Lester M. Alberthal and become the third EDS leader since its 1962 founding by Ross Perot. An EDS board search committee targeted a well-known executive who combined technical knowledge and salesmanship. Analysts praised the committee, led by ex-Secretary of State James A. Baker III, for meetings its goals. Brown declined to specify his plans for revitalizing EDS, which has lost morale and focus since ceding its industry lead to IBM in 1996.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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E.D.S. to buy consultant for $600 million; purchase of Kearney is key to diversification
Article Abstract:
Electronic Data Systems Corp (EDS) is planning to purchase consulting firm A.T. Kearney for as much as $600 million in a transaction that will be half cash and half transfer of stock. The deal has been in the works for some time and was almost completed in May 1995 but was cancelled. Kearney executives were concerned that too many of its consultants would leave the firm if the acquisition took place. Those fears have been dealt with by Kearney executive Fred Steingraber, who made sure that Kearney clients would stay loyal after the deal. The acquisition is important to EDS because the company is seeking to establish a strong management consulting division in order to expand past its primary role as a provider of computer consulting services.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1995
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