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February 8, 1989

BANKING TERMINALS: OLIVETTI TO PAY $174m FOR ISC

By CBR Staff Writer

The mystery suitor for ISC Systems Corp, Spokane, Washington (CI No 1,101), turns out to be none other than Ing C Olivetti & Co SpA, which wants to strengthen its position in the US banking terminals market by merging ISC with its Bunker Ramo unit. The price is $12.25 a share, about $174m all told – just more than the company’s 1988 turnover of $171m, which will turn Olivetti into a $250m a year force in the US banking terminals market, with a 28% share. ISC is recommending its shareholders accept.

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