BMEWS
 
Sarah Palin's presence in the lower 48 means the Arctic ice cap can finally return.

calendar   Tuesday - September 22, 2009

A bit different but I find extremly interesting from the world of business and DELL

I don’t follow this stuff a close as I used to and ran across it tonight in the business section of the paper.  A section I hardly ever go to these days.
I still follow the Q’s (QQQQ) but mostly I pass over things.  Bet the folks who knew were buying a week ago. And there’s ALWAYS someone that knows.
This lights my fire even though I wasn’t playing.


Dell offers $3.9 billion for Perot Systems

Alexandra Frean, US Business Correspondent

Dell, the maker of PCs and laptops, has announced a $3.9 billion (£2.4 billion) proposed takeover of Perot Systems, the technology services provider founded by former presidential candidate, Ross Perot.

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Dell will pay $30 per share in cash for the outstanding stock in Perot under the deal.

For Dell, the world’s second-biggest maker of personal computers, the deal represents an opportunity to expand its information technology services portfolio and to expand Perot’s reach around the world.

The two companies have a combined enterprise-hardware and IT-services revenue of $16 billion, with half of that coming from enhanced services and support.

Michael Dell, chairman of Dell, said the acquisition made “great sense” because of the obvious ways the two businesses complemented each other. “There will be efficiencies from combining the companies,” he added.

Terms of the agreement were approved on Sunday by the boards of directors of both companies, although it is still subject to government approval. Dell expects to close the deal in its November-January quarter.

Perot, which is now chaired by Mr Perot’s son, will become Dell’s service unit and will be led by the current Perot chief executive Peter Altabef.

Dell shares fell 0.9 per cent in pre-market trading to $15.79. Perot shares rose in pre market trading by 11.78 per cent to $29.69

SOURCE,THE TIMES

AND ON THE SAME SUBJECT, THERE IS THIS.

­­­­­­­

Perots work the system to perfection

David Wighton, Business Editor’s Commentary
September 22, 2009

Dell’s takeover of Perot Systems for $3.9 billion has a pleasing symmetry about it.

Last year Hewlett-Packard, Dell’s rival, expanded its own services unit with the takeover of Electronic Data Systems for $13.9 billion.

EDS was started in 1962 by H Ross Perot Sr, the former presidential candidate, who sold the company to General Motors for $2.5 billion in 1984 before going on to found Perot Systems in 1988.

His son, H Ross Perot Jr, is the chairman and he is expected to take a seat on the Dell board.

The Perots, in effect, have pulled off the same deal twice, making a great deal of money both times.

Dell did not have much option but to go for IT services. The company has been losing market share to rivals and seen profits dwindle. Its revenue comes almost exclusively from the battered hardware business of personal computers, while competitors such as IBM and HP have been diversifying into services for a number of years.

Dell is probably paying a little over the odds for its acquisition of Perot Systems. It is paying 1.4 times sales, while HP got EDS for 0.6 times. But there are not that many companies of Perot’s size and expertise out there.

The EDS deal seems to be working out for HP and Michael Dell will be hoping that some of the Perot magic will rub off on him, too.

But, on past experience, it will not be long before H Ross Perot Jr is off to set up a new systems company.

SOURCE, TIMES


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Posted by peiper   United Kingdom  on 09/22/2009 at 05:00 PM   
Filed Under: • Big Business •  
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Oh, and here's some kind of visitor flag counter thingy. Hey, all the cool blogs have one, so I should too. The Visitors Online thingy up at the top doesn't count anything, but it looks neat. It had better, since I paid actual money for it.
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