CHANNEL NEWS
INGRAM'S IPO MOVES CLOSER Ingram Micro is expected to kick off a road show later this month to promote its long-anticipated initial public offering. To help augment investor confidence, the distributor has recently beefed up its management ranks in both the United States and Europe. Michael Grainger, vice president and controller of the distributor's parent, Nashville, Tenn.-based Ingram Industries, has joined th
WANG DOUBLES CHANNEL SALES
Wang Laboratories Inc., Billerica, Mass., said it had more than doubled its channel-related software sales since last November. Wang's channel partners have largely boosted the sales of the vendor's imaging work flow, Computer Output to Laser Disk and network storage management software. In association with Wang's sales force, Wang's partners have been providing systems integration and application development support for Wang customers.
XLCONNECT IPO RAISES $39.5 MILLION
XLConnect Solutions Inc., the integration services arm of Exton, Pa.-based Intelligent Electronics, completed an initial public offering of 2.9 million shares of common stock at $15 per share.
XLConnect plans to use the net proceeds of approximately $39.5 million to reduce its intercompany indebtedness to its parent.
COMPAQ CUTS PROSIGNIA PRICES
Compaq Computer Corp., Houston, reduced prices on selected models of its Prosignia servers up to 17 percent.
This reduction follows closely on the heels of price reductions that took effect in late August of this year. In the last two months Compaq has reduced prices on selected Prosignia servers by as much as 27 percent. Meanwhile, the computer maker's aggressive server strategy received a blow earlier this month when Michael Lambert, Compaq's vice president of marketing, left to become senior vice president of Austin, Texas-based Dell Computer Corp.'s Server Group.
Lambert is credited with helping Compaq establish a strong position among mainstream server customers. Lambert's exit follows the departure of Michael Norris, who left to become president of Intelligent Electronics Inc., Exton, Pa.
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