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September 21, 1995

MCI TO PAY $1,000M CASH FOR SHL

By CBR Staff Writer

MCI Communications Corp is to become a major in the computer systems integration business with the acquisition for some $1,000m cash, of Ottawa, Ontario-based SHL Systemhouse Inc. The price is surprisingly low, considering that the fast-growing and hungry SHL has after a string of acquisitions of its own, built its annual turnover up to some $840m. SHL, which employs 5,000 people, will operate as a stand-alone company that will also take in MCI’s professional services business. SHL’s shares jumped $5 to $12.675 in early trading on Nasdaq yesterday. Coming on the day that AT&T finally decided that computers and telecommunications didn’t mix, MCI loads on the irony by saying that the acquisition will enable it to design, build and manage systems that integrate computing with communications.

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