Digital Equipment Corp yesterday completed its acquisition Philips Electronics NV’s Information Systems Division and said that it would be absorbing the banking systems and software side of the business into its existing European operations, and use the small business arm of the operation as the basis of a new European subsidiary, Digital Equipment Enterprise, serving what the French have long called Le PME, Petites et Moyennes Enterprises. In Germany, Digital-Kienzle Computer Systems will combine with the Philips operations serving small and medium-sized companies. On the banking side, DEC, which is already a substantial player in back office systems and applications, will now its banking operations from Europe. Digital Equipment Enterprise will be primarily a sales, marketing and service company with about 70% of business from indirect channels. DEC is taking on 7,000 Philips employees, but not the Eiserfeld and Apeldoorn plants. Terms were not disclosed but the price is put at some $300m.
