Americans' love of IBM typewriters outlasts company's; firm is selling the division that made its Selectrics; but millions still exist

Article Abstract:

IBM has divested itself of the division that manufactures the Selectric electric typewriter line of products. Clayton and Dubilier Inc has acquired the product line, the right to use the name and the plant that makes them. IBM has ended an era in which, from the 1960s to the 1980s, IBM controlled the US typewriter market with 15 million typewriters sold, many of which are still in place and operational. IBM's patents limited competition , so that other companies, such as Exxon, never made significant inroads into IBM's market share. The Selectric technology has, however, been preempted by computerized word processing and microcomputers.Typewriter sales peaked in the mid-1980s despite IBM's efforts to add word processing-like features such as spelling checkers.

Marketing, Divestiture, Divestment, Company Profile, Electric typewriters, Product Acquisition

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IBM's plan to sell some businesses gains as Clayton & Dubilier gets financing

Article Abstract:

IBM has announced internally that the company's plans to sell some businesses to Clayton & Dubilier - plans rumored to be in trouble - are proceeding toward a satisfactory conclusion. IBM says that financing has been arranged. Clayton & Dubilier will reportedly put up $375 million, and a group of banks led by JP Morgan & Co will lend the rest of the purchase price, which is scaled down to $1.5 billion. When the transaction was first announced, in Sum 1990, IBM said it expected about $2.3 billion for its laser printer, typewriter and keyboard operations. Later, both companies decided to exclude laser printers from a possible deal. Neither Clayton nor IBM will talk about the terms of this agreement. The new company will rank among the largest 200 in the US.

Office machines, not elsewhere classified, Computer peripherals industry, Keyboards (Computers), Laser printers, Laser Printer, Keyboard, Financing

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