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Technology Stocks : BARRA: Investment Software and Consulting
BARZ 0.0001000-90.0%Aug 16 5:00 PM EST
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To: Czechsinthemail who wrote (6)9/5/1997 2:48:00 AM
From: synchro   of 60
 
Barra recently bought a fixed-income analytics software firm called Global Advanced Technology (GAT). GAT mainly does business with life insurance companies. It's my understanding that Barra is pretty strong in the asset management side. There is some overlap between the Barra's fixed-income analytical software and GAT's, so @ first I was a little puzzled why Barra would bother with GAT. GAT is strong on individual security analysis, and Barra is supposedly strong in asset allocations. Technically merging the two sides into one package is going to be a bear, as these software are highly complex and are not your "shrink wrap" variety. One reason for Barra to buy GAT would be to gain access to GAT's life insurance clients.

GAT has one strong competitor (who's willing to underprice GAT) called CMS Bondge. CMS is a small subsidiary of Data Broadcasting, which I believe provides the ticker tape lines on TVs for CNBC. I checked Data Broadcasting's 10K/Q, and the CMS business is small but growing, but nothing to make your heart skip a beat. It's hard to tell if GAT was profitable since before the acquisition it was private. So the acquisition of GAT is definitely a long term play for Barra. I believe Barra took some write-off on the GAT acqusition, which is why the PE looks so high.
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