Chantilly, Virginia-based Genicom Corp says it has terminated those talks with a still undisclosed third party to acquire that company’s desktop printer business.
LSI Logic Corp’s second attempt to buy out the minority holders in LSI Logic Corp of Canada Inc has run into trouble because an independent valuation placed the fair market value of the shares in the range $Can4.60 to $Can5.45, and the Milpitas parent is offering only $Can4.00: the independent committee of LSI Canada’s board concludes that the proposed offer does not reflect the value of the shares; the board says that while it is not prepared to make any recommendation on whether shareholders should tender their shares to the offer, it urges serious consideration because the parent plans to limit the profitability of the Canadian unit through a proposed revision in the way that products transferred from the US parent to its Canadian subsidiary will be priced, crimping the Canadian’s freedom of action.
Telefonica de Espana SA says it has been pre-qualified as one of eight international groups asked to bid to invest in Entel Bolivia; the other firms pre-qualified were France Telecom, Stet SpA, Companhia Portuguesa Radio Marconi SA, Korea Telecom, MCI Communications Corp, Bell Atlantic Corp and US Sprint Corp; Bolivia has coverage of only four lines per 100 people; Entel Bolivia provides cellular service.
Samsung Electronics Co Ltd has already received acceptances to its tender offer for far more shares than it wants buy of AST Research Inc, but it has had to extend the close to July 10 so that AST holders can vote on June to allow it to hold the 40.25% of the equity it wants: it is tendering $22 a share for up to 5.82m shares, and a whopping 25.8m have been tendered; as is normal, it will buy the shares of each tenderer pro rata, so if the numbers stay the same, it will buy just over 20% of each holding.
Media Logic Inc, the Plainsville, Massachusetts company that last year set up a unit in Boulder, Colorado to exploit its Scalable Library Architecture in storage systems, has cut its workforce by 19 people, a reduction of more than 25% of its total employees; most of the cuts were in manufacturing.
Hewlett-Packard Co is to resell those parts of BMC Software Inc’s Patrol that monitor Oracle, Sybase, Informix and other databases within its HP PerfView performance monitoring software; the two say they’ll be working on additional integrated technologies for later in the year.
Hauppauge, New York-based Robotic Vision Systems Inc reports that with almost a month remaining in the quarter, it has already booked $13.2m in new orders for its LS-Series semiconductor lead inspection product line, surpassing the previous quarterly bookings record of $13.1m that it set last quarter.
Gemplus Card International Corp, Gemenos, France Smart Card manufacturer and marketer has joined the Electronic Business Co-op as a founding member: the co-operative was formed earlier this year by Checkfree Corp, Spyglass Inc, Tandem Computers Inc and Virtual Open Network Environment Corp to create an open, convenient and secure payment system for Internet commerce.
Cellnet Mobile Communications Ltd’s arch-rival Vodafone Group Plc is unworried at the idea that Securicor Group Plc and its affiliate might sell their 40% stake to British Telecommunications Plc, a move that has been barred by the UK Department of Trade & Industry for now: Vodafone chief executive Gerry Whent said he did not believe that British Telecom would abuse a dominant position; and anyway the Office of Telecommunications was standing by to ensure fair competition.
AT&T Corp has chosen Slovenian export import company Slovenijales of Ljubliana as its distributor for Slovenia and other republics of former Jugoslavia apart from Macedonia, and Slovenijales has established a new company called Slovenijales-TEL to work with AT&T, which sees Slovenia, where gross domestic product is growing at 4% as a gateway to central and eastern Europe.
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>Nq Silicon foundry Tower Semiconductor Ltd, Migdal Haemak, Israel says it will significantly increase its current monthly wafer production commitment to National Semiconductor Corp and gets an advance payment of $29m for the new effort.
Following the overhaul of its PCI and EISA bus AcerAltos server line back in January, Acer America Corp has added a dual 100MHz Pentium option to the mid-range 7000/p and a 75MHz Pentium configuration to the 800/p entry-point, from $5,700 and $2,250 respectively; they both run Santa Cruz Unix and Windows NT, although the low-end one is regarded primarily as a NetWare server.
Hong Kong-based Pine Technology Group Ltd has opened an office in Dusseldorf, Germany: it has been selling there for four years and the office is designed to improve delivery and provide local, technical support; it will also offer a springboard for European expansion; Pine, which has manufacturing facilities in China’s Guandong province, makes motherboards, graphics boards and distributes some personal computer hardware products.
Absolutely – and these days it even allows its acquired companies to put out press releases that include clumsy and ungrammatical quotations: CGI Systems Inc, Malvern, Pennsylvania subsidiary of IBM Corp’s French acquisition CGI Informatique SA has put out a release defending IBM and saying how wonderful it is to be a Blue subsidiary; it includes the quote We are very surprised by all the talk these days of Lotus’ imminent demise as an independent culture should IBM be successful in its takeover bid; from our experience, the old days of IBM imposing its stringent creeds of behaviour on its newly-acquired partners is a thing of the past, much like the grey flannel suit that for years epitomised the IBM executive…
