The auction between Econocom International NV and the venture capital fund-backed Onset Corp for Decision Data Computer’s parent Decision Industries Inc, Horsham, Pennsylvania, ended with the old year when Onset raised its bid to $11 a share from $10.50, and Econocom retired from the fray. Econocom, which has 23%, comes out of the agreed arrangement between the three companies very well: it says it only wanted Decision so that it could offer lease finance to the company’s customers, which are mainly in the IBM System 36 and 38 market. It has won agreement from Decision and Onset for a joint marketing arrangement that will achieve that objective, enabling it to offer lease terms to Decision’s customers on all their computer equipment. The agreement will take effect as soon as the Onset tender offer, now extended to January 14, is complete, but the merger with Onset will be postponed to April 29. Onset is backed by New York venture capitalists J H Whitney Co and Welsh, Carson, Anderson & Stowe Inc. Decision Data Computer’s European operations are 51% owned by Olivetti.
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