Comdisco acquires Exchange Resources, Inc.: Trading floor recovery services to be offered in 35 cities in North America and Europe.ROSEMONT, Ill.--(BUSINESS WIRE)--Feb. 4, 1997--Comdisco announced a significant expansion of its business continuity services today with the acquisition of the assets and contracts of Exchange Resources, Inc., a disaster recovery services company specializing in trading floor recovery for customers in the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry. Exchange Resources, Inc. (ERI Eri (ē`rī), in the Bible, son of Gad. ) was the first and largest fully operational trading backup facility in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Comdisco purchased ERI, which filed for Chapter 11 bankruptcy protection on September 12, 1996, for $2 million in cash. Comdisco will hire remaining key employees based in ERI's Rutherford, NJ and Minnetonka, MN facilities. ERI had 1996 annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenues of $4.2 million. Leveraging its high-speed, proprietary network and advanced technology infrastructure, Comdisco will provide its customers with market data services feeds in 35 of its North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. and European recovery facilities. "Trading floor recovery is a primary concern to many of our customers, most of whom relied on expensive internal solutions," said David Nolan There have been a number of notable individuals called David Nolan including;
Founded in June 1989, Minnesota-based ERI was the first and only trading backup facility capable of supporting trading groups of several hundred people or more. ERI's customer base included more than 20 blue-chip companies, including Fleet Services Fleet is a motorway service station on the M3 near Basingstoke. It is owned by Welcome Break. It was originally built in a Scandinavian style and in 1992 won "Loo of the Year". , Schroder Wertheim & Co. Inc., and Nat West Markets, all of which will be served by Comdisco. Comdisco has market-leading experience in recovering transaction-driven business units, with heavy emphasis on distributed systems environments, high-end network services, data accessibility and support for large numbers of personnel in an office environment. "The timely recovery of mission critical data and information is vital to every organization, regardless of industry or business processes," said Nolan. "Comdisco is again proving its ability to address marketplace needs by offering services that will benefit existing customers, and expand our customer base." Comdisco Inc. (NYSE NYSE See: New York Stock Exchange :CDO (Collaborative Data Objects) A programming interface from Microsoft for accessing MAPI-based e-mail, calendaring and scheduling servers. Originally called "OLE Messaging" and "Active Messaging," CDO wraps the Enhanced MAPI library into a COM object that provides the ) is a technology services company and one of the world's leading providers of solutions that reduce technology cost and risk. These services include disaster recovery, asset management, network services and leasing. Comdisco reported revenue of $2.4 billion for the fiscal year ended September 30, 1996. Disaster Recovery Services revenue was $318 million. For more information, visit Comdisco's web site at www.comdisco.com . -0- Comdisco and its logos are registered trademarks, and Comdisco Disaster Recovery Services is a trademark of Comdisco, Inc. Other names are trademarks of their respective companies. EDITOR'S NOTE: There is an "at" symbol after "djlaux" and "vadmanm" in the E-mail addresses below. This symbol may not appear properly in some systems. CONTACT: Comdisco Inc. Diane Laux, 847/518-5409 djlaux@comdisco.com or Fleishman-Hillard Melissa Vadman, 312/751-8878 vadmanm@fleishman.com |
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