Fire Sale At Computervision?
Not so long ago, it was one of the world's leading minicomputer makers. Now, Computervision just keeps getting smaller. According to customers and employees, the troubled Bedford (Mass.) company, formerly called Prime Computer, is considering selling some or all of its $600 million computer-repair business to retire debt. A Computervision spokeswoman declined to comment. But cash reserves have dropped 30% this year, to $66 million, and the company still owes $348 million in long-term debt. Its market capitalization, about $150 million, is a scant 16% of annual revenues. A sale could ease the pain for Lehman Brothers, which still holds a 22% stake from Prime's '89 leveraged buyout.
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