Unisys to Acquire Major Stake in Brazil's Datamec.
BLUE BELL, Pa.--(BUSINESS WIRE)--June 23, 1999--
Unisys Corporation (company) Unisys Corporation - The company formed in 1984-5 when Burroughs Corporation merged with Sperry Corporation. This was when the phrase "dinosaurs mating" was coined. today announced that its Brazilian subsidiary, Unisys Brasil Ltda., has submitted a successful bid to acquire an 88 percent interest in Datamec, a Brazilian application outsourcing company headquartered in Rio de Janeiro Rio de Janeiro, city, Brazil
Rio de Janeiro (rē`ō də zhänā`rō, Port. rē` thĭ zhənĕē`r .
Unisys submitted the winning bid of 83.6 million Brazilian reais (approximately $US47 million) at an auction conducted as part of the Brazilian government's business privatization privatization: see nationalization.
Transfer of government services or assets to the private sector. State-owned assets may be sold to private owners, or statutory restrictions on competition between privately and publicly owned initiative.
Key customers for whom Datamec provides data processing data processing or information processing, operations (e.g., handling, merging, sorting, and computing) performed upon data in accordance with strictly defined procedures, such as recording and summarizing the financial transactions of a services are Caixa Economica Federal (Brazil Federal Savings Bank Noun 1. federal savings bank - a federally chartered savings bank
savings bank - a thrift institution in the northeastern United States; since deregulation in the 1980s they offer services competitive with many commercial banks ) - the largest bank in Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. - and Brazil's Ministerio de Trabalho (Ministry of Labor).
In the transaction, which is expected to close June 29, Unisys will purchase approximately 88 percent of Datamec from Caixa Economica Federal. Employees will be given the opportunity to purchase up to 10 percent of Datamec from Caixa Economica Federal, while two percent will remain publicly held.
"Acquiring Datamec opens up significant new opportunities for Unisys to expand its services business," said Jack Blaine, Unisys senior vice president with responsibility for Australasia, Latin America, the Far East and Africa. "It especially enhances Unisys outsourcing capabilities 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. and public sector markets not only in Brazil, but for all of Latin America."
Unisys Brasil Ltda. is a leading provider of information services See Information Systems. and technology to the Brazilian marketplace. It has approximately 1600 employees in its offices in Rio de Janeiro, Sao Paulo and 20 other locations throughout Brazil. Datamec, with over 800 employees, has been providing services in the Brazilian market for nearly 40 years.
Unisys is more than 33,000 employees helping customers in 100 countries apply information technology to solve their business problems.
Unisys solutions are based on a broad portfolio of global information services including electronic business, systems integration including custom and "repeatable" application solutions, outsourcing, Microsoft Windows NT services, network services, and multivendor maintenance and support, coupled with enterprise-class servers and associated middleware, software and storage.
Repeatable solutions are focused on key vertical markets including financial services, transportation, telecommunications, government, publishing, and other commercial markets. The company is headquartered in Blue Bell, Pennsylvania Blue Bell is a census-designated place (CDP) in Whitpain Township in Montgomery County, Pennsylvania, in the United States. As of the 2000 census, its population was 6,395. , in the Greater Philadelphia area. For more information on the company, access the Unisys home page on the World Wide Web at www.unisys.com.
Investor information can be found at www.unisys.com/investor.
Unisys is a registered trademark of Unisys Corporation. All other brands and products referenced herein are acknowledged to be trademarks or registered trademarks of their respective holders.