FRAMINGHAM (04/07/2000) - Computer Associates International Inc. has said it will settle litigation filed against it by shareholders over alleged excessive compensation packages awarded to top CA executives. The executives will return to the company 4.5 million shares of stock worth about $260 million, said the Islandia, N.Y.-based software vendor. Last November, Delaware Chancery Court Vice Chancellor Myron Steele ruled that the CA executives should return 9.5 million shares valued at approximately $550 million.
Once thought to be exterminated, the year 2000 bug has managed to put the bite on first-quarter revenue at Unisys Corp. The Blue Bell, Pa.-based company announced last week that its first-quarter revenue will be a lower-than-expected $1.66 billion to $1.69 billion. Unisys cited lingering weakness in its federal government business and a slow recovery in its financial services business following the Y2k transition as the key contributors to its reduced revenue outlook.
Electronic-business software vendor Peregrine Systems Inc. and business-to-business e-commerce software provider Harbinger Corp. announced an agreement to merge in an all-stock deal valued at $2.1 billion. By joining forces, Peregrine and Harbinger said they aim to become the industry's largest provider of electronic-business software and systems. The combined company would have about 44,000 customers and a network of electronic marketplaces that process more than 1 million transactions per day, Peregrine and Harbinger said.
AT&T Corp., British Telecommunications PLC and Concert Communications Company, a global Internet provider network venture between the two companies, have announced plans to build 44 Internet data centers in 16 countries.