Geac continues growth plan with Interealty buy

Article Abstract:

Geac Computer Corp. Ltd. of Markham, Ontario, purchased the Vienna, VA-based Interealty Corp. for an undisclosed amount. The acquisition, which is estimated by analysts to have cost around C$50 million, is in line with Geac's strategy of buying underperforming companies and implementing cost-reduction and operating efficiencies in those companies. Interealty is a developer of software products for over 400,000 real estate agents and brokerages in the US. Geac posted net income of C$168.7 million or $2.82 per share in the fiscal year ended Apr. 30, 1998, as revenue was at C$646.6 million, 70-percent higher than C$381.2 million in revenue in the previous year.

Comment:

Purchases Vienna, VA-based Interealty Corp. for an undisclosed amount, US

Canada, Software Publishers, Asset sales & divestitures, Acquisitions & mergers, Foreign operations, Computers & Auxiliary Equip, Business Software (Micro), Business management software, Suites (Software), Geac Computer Corporation Ltd., Article, Interealty Corp.

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Dell CEO explains ATI's lost contract

Article Abstract:

Dell Computer Corp founder and CEO Michael Dell said it pulled out a major contract from ATI Technologies Inc because of production problems, not because of technology glitches. Dell, based in Round Rock, TX, has cancelled a contract to use ATI's graphics chip in its new OptiPlex computers. The contract accounted for around $10 million in revenues every quarter for ATI.

Semiconductor and Related Device Manufacturing, Contracts & orders received, Use of materials & supplies, ICs by Function NEC, Analog & Hybrid Computers, Integrated circuits, Dell Inc., Coprocessors

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