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BN EDS to Invest $1.5 Bln in Online Commerce Companies (Update2)
Dec 17 1999 16:29
EDS to Invest $1.5 Bln in Online Commerce Companies (Update2)
(Updates with closing share price.)
Plano, Texas, Dec. 17 (Bloomberg) -- Electronic Data Systems
Corp., the second-largest U.S. computer services company, said
it's forming a $1.5 billion fund that will invest in Internet-
based companies during the next five years.
The fund, EDS-A.T. Kearney Ventures, will invest mainly in
EDS's consulting clients and partners, focusing on companies that
arrange the sales of goods and services between businesses. A.T.
Kearney is EDS's management-consulting unit.
EDS, based in Plano, Texas, said the fund's first investments
will be in a new company called EDS CoNext, an online supplier of
goods and services to businesses, and Tradex Technologies Inc.,
which sets up online sales networks for companies. Ariba Inc.
yesterday agreed to buy Tradex for about $1.97 billion in stock.
Scient Corp., Viant Corp. and other computer consultants are
investing in startups with plans to eventually spin them off, SG
Cowen analyst Moshe Katri said.
EDS shares fell 4 11/16 to 59 3/8 on the New York Stock |
