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Technology / AI and automation


Ask Computer Systems Inc, Mountain View, yesterday effectively wrapped up its proposed acquisition of Ingres Corp, saying that at the close of its tender offer, 94% of Ingres shares had been tendered and that it would be paying for them promptly. It also said that it had now, as proposed, sold a total of 5.6m new Ask shares to Electronic Data Systems Corp and Hewlett-Packard Co for $60m cash. The last piece of the jigsaw fell into place when Ask signed a definitive bank credit agreement with Chase Manhattan Bank, under which it can borrow up to $50m in order to fund, in part, the purchase of Ingres shares and to pay a portion of the costs of the acquisition.

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CBR Staff Writer

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