View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
January 1, 1987

TANDON GETS RIGHTS TO XEROX SOFTWARE, XEROX GETS OPTION ON STAKE IN TANDON

By CBR Staff Writer

The evolving relationship between Xerox Corp and Tandon Corp, Chatsworth, California, moved several steps forward as the old year waned, and Xerox is likely to become an equity investor in the disk drive and Personalike manufacturer. At the same time, Tandon said that it would need to raise further finance early this year for working capital, opening the door to Xerox becoming a major stakeholder: Tandon reported a loss of $45.3m on sales of $56.4m in its fiscal fourth quarter (see page three). Xerox bailed Tandon out about three months ago with a $4m three-year note, with an option to convert the loan into Tandon equity; it would hold less than 5% on conversion.

Websites in our network
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
I consent to New Statesman Media Group collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED
THANK YOU