Wang Laboratories has confirmed widely reported rumours that it is negotiating the possible purchase of Olivetti?s computer services division Olsy.
Until now, Olivetti had only admitted to being on the look out for an "international partner" for Olsy. However, Wang says that if the deal goes ahead, Olsy will be merged into its own services business - and Olivetti would acquire a stake in the combined company.
Wang has just reported its results for the quarter ended 30 Septemer. The company had income of $11.4 million, on turnover of $312,2 million. This represents a 14 per cent growth in revenue. In the year-ago quarter, Wang lost 26.4 million.
Wang emerged from bankruptcy in 1993, after which the former minicomputer manufacturer shed its hardware business to concentrate on software and services. The software has since been sold off, too.
Olsy currently employs over 12,000 people, more than Wang which has about 10,000.
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