PACKARD BELL BECOMES A SUBSIDIARY OF NEC.(Brief Article)
HFN: The Weekly Newspaper for the Home Furnishing Network, August, 1998
NEC Corp. said it would incorporate Packard Bell NEC Inc., the U.S. PC maker in which it has invested, as a NEC subsidiary. NEC, which will invest an another $225 million in Packard Bell, now has full control of the 12-year-old company. NEC and minority investor Groupe Bull together have put more than $2 billion in cash and assets into Packard Bell in the past three years.
In June, Packard Bell founder Beny Alagem resigned as chairman and chief executive.
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