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Bank Technology News, July, 2006
Carreker Eyes Sale; Leadership Ripped Hedge-fund activist Robert Chapman, known for buying into undervalued companies for the purposes of shoving out "derelict" management, has burrowed into Carreker Corp. and apparently prompted CEO Denny Carreker and the board of directors to agree to investigate a sale or merger of the struggling imaging technology firm.
Chapman, whose firm has 1.7 million shares, literally delivered a scathing "Dear Denny" letter to the board and to the SEC demanding the sale. "With Carreker's stock almost 50 percent below its $11/share 1998 IPO price...your 'lease on the company' should have expired years ago," Chapman wrote.Slight Rise In It Buys: Core, Online, Branch IT spending in financial services will grow at a "modest" three to four percent...
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