Content area
Full Text
Computer Associates International Inc. and Uccel Corp. announced on Monday that they plan a merger to form the biggest independent vendor of software.
In their latest fiscal years, the two companies had combined revenues of $450 million. Computer Associates proposes using about $800 million in stock to acquire Uccel, a major seller of systems software and bank applications packages.
The merger plan was disclosed at a press conference in New York, not at the national operations and automation conference here. But when word spread, it was Topic A among those attending the annual gathering sponsored by the American Bankers Association.
Investors enthusiastically greeted the announcement. In late afternoon trading, Uccel stock changed hands at $43.50 on the New York Stock Exchange, up $11.50 from its closing price on Friday.
Computer Associates, based in Garden City, N.Y., is a major international vendor of systems software for IBM mainframes, primarily the DOS operating system. It also sells applications software and microcomputer software, but none for banks.
The Dallas-based...