Computer maker to pay $16.25 per share in $280
April 10, 1997: 9:35 a.m. ET
HOUSTON (Reuter) -- Compaq Computer Corp. said Thursday it
had reached a definitive agreement to acquire Microcom Inc., a
Norwood, Mass.-based company that makes remote access
technologies and modems.
Compaq will make a tender offer for all Microcom shares at
$16.25 cash each, representing a total purchase price of about $280
Compaq said Microcom's board and management team have
approved the acquisition and will recommend shareholder
"Development of the strategically important and rapidly
growing remote access market is a top priority in Compaq's move
to expand its communication products business," said Alan Lutz,
senior vice president of Compaq's communication products group.
"With Microcom, we can now deliver complete end-to-end
high-performance modem and ISDN connectivity," he said.
A remote access server provides the link between a local area
network (LAN) and remote personal computer users who need to
connect to the LAN by modem.
Compaq said it estimated demand for remote access servers will
grow from $3.0 billion in 1996 to $8.3 billion in 2000.
Running around robbing banks all wacked off of scooby snacks...
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