Computer Associates Tender Offer for Computer Management Sciences Closes With More Than 98 Percent Acceptance.ISLANDIA, N.Y.--(BUSINESS WIRE)--March 10, 1999-- Acquisition Strengthens CA's Global Professional Services Portfolio Computer Associates International, Inc. (NYSE NYSE See: New York Stock Exchange : CA) announced that more than 98 per cent of the shares of Computer Management Sciences, Inc. (Nasdaq: CMSX CMSX Computer Management Sciences (former stock symbol; now delisted) ) common stock was tendered prior to the expiration of CA's previously announced tender offer. The tender offer for all of the outstanding shares, at a price of $28 per share in cash, expired at 12:00 midnight, New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time, on Tuesday, March 9, 1999. All shares validly tendered and not properly withdrawn prior to the expiration were accepted for payment. Approximately 14,500,000 shares of common stock of Computer Management Sciences, Inc. (CMSI CMSI Citicorp Mortgage Services, Inc. CMSI Checkout/Control and Monitor Subsystem Interface (NASA) ) were tendered. The merger of CMSI with CA will become effective as soon as reasonably practicable. Once this occurs, CMSI will become a wholly-owned subsidiary of CA and part of CA's Global Professional Services (GPS). The acquisition of CMSI, which custom-develops cutting-edge IT solutions for a Fortune 1000 client base, reflects GPS' growth strategy of implementing leading-edge business solutions. The acquisition will accelerate the delivery of powerful new solutions built around CA's Unicenter TNG TNG Training TNG The Next Generation TNG Tongue TNG The Newspaper Guild (Union) TNG Transitional National Government TNG Telescopio Nazionale Galileo (national facility of the Italian astronomical community) and Jasmine technologies into the upper echelons of the enterprise-wide distributed applications market space. CA will also expand CMSI's national network of Systems Outsourcing Centers (SOC) to include Europe, Asia, South America and other regions. SOCs are highly-secured systems development service centers equipped with advanced hardware and software to simulate almost any development environment. CMSI specializes in Internet development, business process re-engineering See reengineering. (business) Business Process Re-engineering - (BPR) Any radical change in the way in which an organisation performs its business activities. BPR involves a fundamental re-think of the business processes followed by a redesign of business activities to , strategy planning, evolutionary downsizing (1) Converting mainframe and mini-based systems to client/server LANs. (2) To reduce equipment and associated costs by switching to a less-expensive system. (jargon) downsizing , rapid application development, object-oriented databases, vendor software evaluation, and other key technology areas. Clients include Coca-Cola, CSX Corporation, Kemper Financial Services, Lockheed Aeronautical aer·o·nau·tic also aer·o·nau·ti·cal adj. Of or relating to aeronautics. aer  o·nau Systems Company, Merrill Lynch and Wachovia Bank. Computer Associates International, Inc. (NYSE: CA), the world leader in mission-critical business computing, provides software, support and integration services in more than 100 countries around the world. CA has more than 13,000 employees and had revenue of $5.1 billion in calendar year 1998. For more information about CA, please call 516-342-5224 or email info@cai.com. CA's World Wide Web address is www.cai.com. -0- All referenced product names are trademarks of their respective companies. |
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