FRAMINGHAM (07/28/2000) - Invensys PLC this week announced that it's pursuing its planned acquisition of financially strapped Baan Co. NV, despite again failing to get the amount of Baan shares that it had set as a condition for the $709 million deal. London-based Invensys said it bought or received sale commitments for about 75% of Baan's shares under an extended tender offer that expired last week. That fell far short of the 95% that it wanted, but the company said it has waived that requirement and has signed a deal with Baan to take control of the Dutch business applications vendor.
Sun Extends E-Auction
Sun Microsystems Inc. is extending its online auction program to resellers, giving them the opportunity to buy selected Sun workstations, servers and software on the spot market and then resell the gear to end users. Before, Sun's 4-month-old auction program was open exclusively to user companies such as small Web start-ups that bid on available Sun products at Internet auction sites run by eBay Inc., Mercata Inc. and TekSell.com Inc.
Symbol Technologies Inc. in Holtsville, N.Y., plans to acquire Telxon Corp., a Cincinnati-based company that designs and builds wireless networks for customers in more than 60 countries, in a stock-for-stock merger valued at $465 million. . . . IBM pledged to spend $1 billion in the European wireless services market and to hire 2,500 people in the region in the next two years. .
. . Compaq Computer Corp. has agreed to pay the U.S. government $4.5 million related to overcharges on a contract with the U.S. Department of Defense made by Digital Equipment Corp. Compaq acquired Digital in 1998. . . . Sniffing out cheating spouses wasn't what SpectorSoft Corp. had in mind when it created its Web-surfing tracker software, but that's what it's being used for. "More than half of our business is coming from suspicious spouses," said Doug Fowler, vice president of marketing at the Vero Beach, Fla.-based company.