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Technology / AI and automation

STRATUS AGREES TO PAY UP TO $32m FOR FINANCIAL HOUSE TCAM SYSTEMS

Marlborough, Massachusetts-based Stratus Computer Inc, continuing its programme to build up a portfolio of software companies, yesterday announced a letter of intent to acquire TCAM Systems Inc and its affiliated companies for about $17m cash up-front, plus an earn-out worth up to another $15m if TCAM meets pre-set objectives over the next three years. TCAM, which has offices in New York, London and Edinburgh does software products and offers consultancy, providing systems integration and turnkey systems to the securities industry, is involved with Stratus on computerising the Bombay stock exchange (CI No 2,258). The TCAM Systems group saw sales of $25.3m in 1993, and claims to service over 50 customers in 11 countries, and has been a Stratus application software provider since 1985.

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