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Technology Stocks : Seagate Technology - Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Gottfried who wrote (717)	3/24/1999 10:21:00 AM
From: Duker	Read Replies (1) \| Respond to of 1989

SEG is pretty much on sale today ... IBM unlocks technology in $3 billion EMC deal By Andrew Hay ARMONK, N.Y., March 24 (Reuters) - International Business Machines Corp. (NYSE:IBM - news) on Wednesday agreed to a $3 billion computer parts and technology pact with rival EMC Corp. (NYSE:EMC - news), in a further move to unlock IBM's high technology treasure trove. Under the five-year alliance, the second such deal the Armonk, N.Y. firm has entered this month, leading computer data storage systems maker EMC will expand purchases of advanced IBM disk drives and share key technology. In the future, the agreement will likely include other IBM products, such as microprocessors and advanced custom chips. IBM, the world's largest computer maker, has spent billions in recent years developing ground-breaking computer hardware and software technologies. The company is now reaping the rewards of that research, providing outside companies, many of them competitors, with many of the same technologies IBM's own businesses incorporate in their own products. Earlier this month, IBM formed a $16 billion technology pact with Dell Computer Corp. (Nasdaq:DELL - news) in the largest supply deal the industry had seen. The EMC alliance calls for a broad patent cross-license for storage and other technologies, and the two companies agreed to collaborate to further develop business opportunities. The deal also underlines a widespread practice in the high technology sector in which rivals compete in broad areas and cooperate in selected businesses. EMC's stock closed Tuesday down $1.94 at $113.81 on the New York Stock Exchange and IBM closed down $1.44 at $165.75. --Duker