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Investment Banking and
Strategic Business Development
Willis Stein & Partners Purchase of EDS’ Community Banking
Business
Acquisition Summary
|
Target Information |
| Target: |
EDS’ Community
Banking Business |
| City: |
Dallas |
State: TX |
| Type of Company: |
IT Provider to
Community Banks |
| Financial Data As Of: |
9/30/99 |
Assets: - |
Net Income (LTM): - |
| Target’s Business: |
EDS delivers
management consulting, electronic business solutions, and systems and
technology expertise to improve the performance of more than 9,000
business and government customers in about 50 countries. Within the
community banking sector EDS is one of the top five IT providers. The
Company’s community banking division services over 500 banks by
providing them with Y2K-compliant core application systems, item imaging
technology and a full suite of electronic banking capabilities. |
|
Acquirer Information |
| Acquirer Name: |
Willis Stein &
Partners |
| City: |
Chicago |
State: IL |
| Type of Company: |
Private Equity
Investment Firm |
| Financial Data As Of: |
9/30/99 |
Assets: - |
Net Income (LTM): - |
| Acquirer’s Business |
Willis Stein &
Partners is a leading private equity investment firm specializing in
investments in profitable, well-managed and growing businesses targeting
the media, telecommunications, business services, manufacturing and
health care industries. The principals of Willis Stein have made
investments in 37 companies and currently manage approximately $1.2
billion of equity capital. Target investments include U.S. based public
and private companies with transaction values ranging from $100 million
to $1 billion. |
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Transaction Information |
| Status: |
Pending |
| Announcement
Date: |
12/7/99 |
Accounting:
Purchase |
| Completion Date: |
Pending |
Consideration:
Equity |
| Deal Value: |
- |
| Price/Earnings |
- |
| Price/Est.
Earnings |
- |
| Price/Book Value |
- |
| Comments: |
The new company
will be an independent company based in the Dallas, Texas, area. It will
build upon EDS' current community banking business, including its
leadership, employee and customer base, and the product and service
portfolio used by the community-banking marketplace. Terms of the deal
were not disclosed. |
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