Analyst: AT&T To Acquire Stake in Memorex-Telex
NEW YORK (AP) _ AT&T is expected to acquire a minority stake in Memorex-Telex NV, a Dutch- based computer company, and to transfer responsibility for some of its computer line to Memorex-Telex, an industry analyst said Friday.
Robert Djurdjevic, president of Annex Research of Phoenix, Ariz., said the companies were expected to announce the deal Friday. However, neither American Telephone & Telgraph Co. nor Memorex-Telex made such an announcement, and neither would comment on the report.
Under the reported plan, AT&T would acquire a stake in privately held Memorex-Telex of 5 percent to 10 percent, Djurdjevic said. In exchange, the phone company would receive a seat on Memorex-Telex’s board of directors, he said.
As part of the deal, AT&T would transfer its line of computers based on IBM’s model 3270 machines to Memorex-Telex, Djurdjevic said. Memorex-Telex makes a similar line of computer terminals.
Djurdjevic, whose company does research on the computer industry for clients, declined to reveal his sources. He said he could not place a dollar value on the transaction.
Memorex-Telex, based in Amsterdam, resulted from the 1987 purchase of Tulsa, Okla.-based Telex Corp., a computer systems maker, by the former Memorex International NV. The company makes a variety of computers and computer products and operates in 27 countries.
Memorex-Telex had 1989 sales of $2.24 billion, said Julia C. Gentz, a company spokeswoman in Tulsa. It has about 10,000 employees, including 6,500 in the United States, she said.