Following the sale of its Imprimis Technology unit, Control Data Corp is now in a position where it can start buying back its debt, and the company now sees alliances with others as the way back to financial health. The company would like to buy back some of $172.5m subordinated convertible debentures next year to cut its interest bills, and has no intention of tapping its short-term bank lines for a good part of 1990. Sometime next year, Control Data will develop a new bank relationship, president Lawrence Perlman said. Moreover, although it would like to sell the sports and entertainment ticketing part of Ticketron, it’s because the business no longer fits, not because it needs the cash. It plans to hang on to Ticketron’s automated betting business, which operates lotteries in six states and is bidding for Minnesota’s business, as well as looking overseas try Australia, fellahs.While the VTC Inc chip business continues to lose money, some of the technology is seen as vital to the US national defence interest, so CDC plans to persevere with the business and turn it around.
