Subscribe for daily, weekly or monthly web hosting news updates by email!

Comdisco To Sell Availability Solutions Business To HP for $750 Million

Tags:  hewlett-packard 

By theWHIR.com , October 31, 2001

October 31, 2001 -- (WEB HOST INDUSTRY REVIEW) -- Comdisco, Inc. (comdisco.com) announced yesterday that it has signed an agreement to sell its Availability Solutions (TechnologyServices) business to Hewlett-Packard Company (hp.com) for $750 million. The agreement, which is supported by Comdisco and the Official Committee of Unsecured Creditors, is subject to approval by the U.S. Bankruptcy Court for the Northern District of Illinois, which the company intends to seek at a hearing scheduled for Nov. 7, 2001.

As previously announced on July 16, 2001, Comdisco entered into an agreementwith HP to sell the Availability Solutions business for $610 million. Thatagreement was subject to higher or otherwise better offers in aCourt-authorized auction process. Following the auction held on Oct. 11,Comdisco, with the support of the Creditors' and Equity Committees, approveda bid by SunGard Data Systems, Inc. for $825 million as the highest orotherwise best offer.

A lawsuit seeking to enjoin the transaction with SunGard on antitrustgrounds was filed by the Department of Justice in the U.S. District Courtfor the District of Columbia on Oct. 22, 2001. The Creditors' Committeewithdrew its support of the SunGard bid in favor of an unsolicited $750million offer by HP received on Oct. 22, 2001 after the commencement of theDOJ lawsuit.

  • (0) Comments

Comment anonymously or log into your WHIR account

Logging in allows enhanced commenting features (such as external linking) in news, features, blogs and more.

User:

Pass:

(reset password)

Don't have an account yet? Register now!


 

Read Back Issues of WHIR Magazine

October 2009 - Web Hosting's All Star Team
This has been, for us, one of the most interesting, exciting and challenging build-ups to an issue of the magazine yet, Web Hosting's All Star Team. The balloting process was our first experiment with a kind of user participation we're planning to do a lot more with in the months to come. We had thousands of ballots submitted, with hundreds of write-in suggestions and a demonstration of user engagement that has us feeling super positive about the project.
About This Issue | Read Digital Edition

July 2009 - What am I Worth?
One of the interesting luxuries of working on a project like the printed WHIR magazine is that it allows us to play with things like our point of view from one issue to the next. In recent months we've been giving added attention to the kind of practical and applicable advice aimed at smaller hosts and resellers. This issue carries on with that point of view, asking, in our cover story, "what am I worth?" It's a complicated question without a clear-cut answer.
About This Issue | Read Digital Edition

May 2009 - The Blueprint for a Small Web Host
I was a little surprised by how difficult it became to see this idea through. We set out to assemble a blueprint for a small hosting business, but butted up pretty quickly against the general impossibility of covering all the territory that was out there to be covered. The basic constraints of a printed magazine, and the less-than-infinite amount of time we had available forced us to face the fact that we could never produce an exhaustive guide to starting a hosting company.
About This Issue | Read Digital Edition

Read more WHIR Magazine back issues