jmd@swbatl.UUCP (03) (04/13/89)
Has anyone heard that Apollo has been bought out by
HP ??? Would appreciate any info on this , is it true or just
a rumor ???
--
James M Doherty - SWBT - Advanced Technology Planning
One Bell Center Room 11-Y-03 St. Louis, Mo. 63101
UUCP: { pyramid, ihnp4, bellcore }...!swbatl!jmd
PHON: 314-235-0804 FAX: 314-235-0727wescott@LNIC1.HPRC.UH.EDU (Andrew M. Wescott) (04/13/89)
I would be skeptical of that rumor. We ran the Apollo people over the coals in regard to their financial status before we bought our DN 10000 and DN 3500 systems. I would say (hope) that Apollo's best days are ahead of them. Andrew Wescott University of Houston Department of Chemical Engineering
jay%sunpitt.East@SUN.COM (Jay Douglass - Sun Pittsburgh - Sales Rep) (04/14/89)
It was announced this past Wed.
tracys@hpindda.HP.COM (Tracy Steelhammer) (04/15/89)
Here is the press release that we in HP received a couple of days ago.
I'm not in corporate public relations, so the following is absolutely
all I know about this acquisition. Please do not contact me.
HEWLETT-PACKARD TO ACQUIRE APOLLO COMPUTER
Hewlett-Packard Company and Apollo Computer Inc.
announced April 12 that both companies' board of directors have
approved a definite agreement by which HP will acquire
Apollo through a direct cash tender offer to its shareholders.
Apollo, one of the first companies to address the developing
demand for engineering workstations, employs 4,450 people
worldwide and had revenue of $654 million in 1988. It was founded
in 1980 and is headquartered in Chelmsford, Massachusetts. Under
terms of the expected acquisition, it will become a division
within HP's Workstation Group in the Computer Products Sector.
Cash price of HP's offer is $13.125 per share for Apollo's
approximately 40 million shares of common stock.
HP President and CEO John Young termed the acquisition
"an ideal combination of product strengths and business
strategies." Apollo is a leader in work group grouping
while HP is a leader in graphics and wide-area networking. Like HP,
Apollo is recognized for technical innovation and high-quality
computer products and is committed to moving toward cooperative
computing environments based on open industry standards.
HP is currently ranked by industry watchers in third place
in the workstation segment of the computer business, with
Apollo in fourth place.
HP and Apollo were both founding sponsors of the Open
Software Foundation, and HP is a licensee of Apollo's Network
Computing System (NCS) software. Both firms are pioneers in the
area of RISC architectures for workstation applications and have
major commitments to the Motorola 680X0 family of processors.
Apollo's product line includes the 3500 and 4500 series of
workstations based on the Motorola 680X0 and a second line based on
its own proprietary RISC technology (the DN Series 10000).
The company has manufacturing facilities in Exeter, New
Hampshire, and Livingston, Scotland.
Allowing time for the necessary regulatory approvals, the
acquisition could be completed within 30 days or more.
Corporate Public Relations