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NOVELL TO PAY $34m FOR CXI

The leading local networking players are on constant look-out for acquisitions to bolster their positions, and following 3Com’s move for Centram, Novell Inc, Orem, Utah, has announced definitive agreement to acquire CXI Inc, Palo Alto, California. CXI specialises in the design, develop and manufacturing of 3270 and 5250 micro-to-mainframe communication products based on its PCOX technology. The PCOX 3270 series makes possible integration of IBM Personals and Personalikes into a company’s local or remote 3270 network. Novell has agreed to pay 950,000 shares of its common stock, giving the transaction an indicated value of about $34m. The acquisition will be accounted for as a pooling of interests transaction. CXI, which will operate as a wholly-owned subsidiary of Novell under its present management, has 78 employees, and its 1986 turnover was just under $20m. The transaction is set for completion by the end of February subject to approval of both boards, and of CXI’s shareholders, and regulatory approvals.

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CBR Staff Writer

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