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Article: Packard Bell and NEC Announce Merger of Worldwide PC Operations; Transaction Creates "Packard Bell NEC;" Packard Bell NEC Represents $8 Billion Global PC Power -- Extending from Home Multimedia to High-end PC Multiprocessor Servers.
- Article from:
- Business Wire
- Article date:
- June 4, 1996
CopyrightCOPYRIGHT 1996 Business Wire. 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)
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SACRAMENTO, Calif.--(BUSINESS WIRE)--June 4, 1996--Packard Bell and NEC announced today that they have concluded a memorandum of understanding in which NEC's worldwide personal computer operations outside of Japan will merge into Packard Bell. Upon completion of the transaction, estimated to be valued at approximately $300 million, the name of the combined company will be changed to "Packard Bell NEC." The transaction is expected to be completed by July 1, 1996.
The transaction, which is the next logical step in the global alliance announced in August 1995 and February 1996 between Packard Bell, NEC and Groupe Bull, enables Packard Bell NEC to possess the ...