Unisys Corp seems about to shrink by another $2,100m in annual sales and 17,000 employees: the company declines to comment, but according to the Washington Post, the company is negotiating with investment firm Carlyle Group Inc to sell its defense division via a public offering, raising at least $500m and up to $700m to reduce its debt mountain; at its current share price, the whole of Unisys is valued at only $800m. Frank Carlucci, head of the Carlyle Group and former US Secretary of Defense, would become chairman of the new company. The defence division, headquartered in McLean, Virginia manufactures custom electronics for weapons and radar systems for the Pentagon, intelligence agencies and civilian firms.
