|
|
Article: Computer Associates buying out Newtrend LP. (Computer Associates International)
- Article from:
- American Banker
- Article date:
- July 8, 1994
- Author:
CopyrightCOPYRIGHT 1994 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Computer Associates International Inc. moved on Thursday to take full control of a venture it has been operating jointly with Newtrend Group, an Orlando-based bank systems company.
Seeking to put an end to a stormy and litigious three-year relationship, Computer Associates said it would exercise its right to increase its ownership in the venture, Newtrend LP, to 100% from 50%.
Newtrend Group, which owns the other 50%, reportedly had found a potential buyer for the joint venture.
Computer Associates, which bills itself as the world's leading software vendor, said it was exercising a right of first refusal to buy out Newtrend Group at the price offered by the outside ...