Business Services Industry
American Giant "Computer Associates" Takes Over Israeli Memco Software.
Israel Business Today, June, 1999
Computer Associates, one of the largest computer software companies in the world with a market value of $27 billion has gained control of Israeli software security company Memco. Memco had recently merged with American Platinum Technology in a deal worth more than $200 million. Computer Associates, listed on the New York Stock Exchange, used the growing value of its stock to buy Platinum Technology for $3.5 billion and also became the owner of Memco.
Computer Associates known for its cut and slash policy after taking over a company, has already put this type of management into effect at Memco. The new owners have sent dismissal notices to 20 Memco employees, and additional employees could be dismissed as Computer Associates further evaluates the company. Many of...
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