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Technology Stocks : Dell Technologies Inc. -- Ignore unavailable to you. Want to Upgrade?

To: OLDTRADER who wrote (141656)	9/8/1999 7:44:00 PM
From: Walcalla	Read Replies (1) \| Respond to of 176387

CNNfn just said Dell shares lost 3.5% today due to the news of the ConvergeNet news. Did'nt Dell make this announcement after the bell??. No wonder Dell can't break 50.00 with misinformation like that.

To: OLDTRADER who wrote (141656)	9/8/1999 7:44:00 PM
From: Lee	Respond to of 176387

WBM,..Re:.Dell's purchase of ConvergeNet Steven had it right. Dell Buying ConvergeNet, Its First Acquisition Deal dailynews.yahoo.com ROUND ROCK, Texas (Reuters) - Dell Computer Corp. (Nasdaq:DELL - news) Wednesday said it would buy network storage company ConvergeNet Technologies Inc. in a stock deal valued at about $340 million, the first acquisition by the world's No. 2 personal computer maker in its 15-year history. Dell said the purchase of ConvergeNet, a maker of networked data storage systems used by office computer users to manage the explosion of Internet data, is part of its bid to become one of the top three suppliers of data storage in the world. Terms call for Dell to exchange about 6.9 million shares of its common stock for all outstanding shares and options of ConvergeNet. The deal is expected to close within 60 days. Boards of both companies have approved the merger. Dell said it expects to record a one-time charge of 5 cents to 7 cents per share against future quarterly earnings to cover a write-off for research and development expenses previously incurred by ConvergeNet. ConvergeNet of San Jose, Calif. focuses on data-storage technologies for so-called storage area networks (SAN), an emerging category of storage that pipes data to specialized storage systems attached to departmental computer networks. The company, which has yet to sell its first product, gives Dell the ability to connect storage systems to a variety of computer servers from different manufacturers, expanding the total market Dell can reach beyond its own computer customers. Market researcher International Data Corp. estimates this ''open systems'' data storage market will total $38 billion by 2002. Dell still has over $4 billion in cash and securities as of last 10Q. (cash 620k, marketable securities 3.3b) dell.com Regards, Lee