Word: norrisism
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In return for dropping its suit, Control Data won a good deal. For about $16 million, it will acquire IBM's Service Bureau Corp., a subsidiary that processes customers' data and sells time on its own computers. Wall Street analysts reckon that the Service Bureau's real...
Norris has long held a grudge against IBM. Control Data, founded in 1957 by Norris and seven other computer engineers who quit Sperry Rand Corp., rose to prominence by concentrating on a part of the market that IBM did not dominate: the large computer used mainly in scientific research. In...
Minneapolis. Control Data was technologically far ahead in the contest, but IBM's announcement dried up orders for Norris' 6600. In a rage, he filed the antitrust suit.
Norris' reprisal will speed Control Data's financial recovery. The firm lost a total of $46 million on computer operations in 1970 and 1971, but will probably report a small profit on them for 1972. Acquiring the Service Bureau, which last year earned $1.5 million on revenues of...
IBM executives have been close-mouthed about the settlement, but competitors see it as an admission that the men from Armonk are taking the threat of antitrust more seriously than they have admitted. Last week the company reported record net income of $1.3 billion on record revenues of $9.5 billion...