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Technology / AI and automation

XEROX TO BUY PART OF CROWNTEK’s COMPUTER CORP OF AMERICA; MOST TO GO IN BUY-OUT

Immediately after disengaging from the artificial intelligence business by floating its operations off into a new firm, Envos Corp (CI No 1,001) Xerox Corp, Stamford, Connecticut, has made a significant expansion of its general software business by agreeing to acquire the advanced information technology division of Computer Corp of America from Canadian financial and health care conglomerate CrownX Inc of Toronto. CrownX put its Crowntek portfolio of software interests on the block in November (CI No 813). According to Computer Corp, trading under the CrownTek name in the UK, the division going to Xerox, which specialises in the research and development of database software systems, has no connection with Computer Corp’s core Model 204 IBM relational database system. The division does research mainly related to DEC database software products. It will become part of the Xerox custom systems division, and Xerox hopes to complete the acquisition this quarter; terms were not disclosed. The intention is that the rest of Computer Corp of America and CrownTek should be acquired by the management, and negotiations are on course for finan cial details be given next month.

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CBR Staff Writer

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