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December 15, 1987

PROPOSED CREATION OF MEMOREX-TELEX NV

By CBR Staff Writer

The good news on the proposed creation of Memorex-Telex NV is that the combined company will be doing annual business of some $2,000m with Memorex strong in Europe and Telex in the US, and will create a group that is number two to IBM in the 3270 market, albeit only a quarter the size of IBM’s 3270 business; the bad news is that the company, originally formed in a buy-out from Unisys Corp for which 42% shareholder Eli Jacobs put up just $3m, the rest being raised mainly through junk bond issues, will be saddled with $1,300m debt.

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