AlliedSignal, Honeywell Deal Creates Another Giant:<@VM>PricewaterhouseCoopers Makes French Connection: <@VM>Navy Planning High-Security Project:<@VM>IBM Forms Education Alliance:
By Nick Wakeman
Two major players in government engineering and IT markets will get even bigger as AlliedSignal Inc. of Morristown, N.J., and Honeywell Inc. of Minneapolis have agreed to merge. The new company, to be called Honeywell, will have $25 billion in annual revenue. About $10 billion will be in the aerospace sector, which includes information technology work with the Air Force, Navy and NASA. The stock swap deal, which is valued at $14 billion, is expected to close by the end of 1999. The combined company will be headquartered in Morristown and will have 120,000 employees.
PricewaterhouseCoopers of New York strengthened its European presence by buying the consulting company SV&GM Group of Paris for about $42 million. The French company with about 600 employees had 1998 revenue of $102 million. The deal makes PricewaterhouseCoopers the second largest consulting company in France.
"PricewaterhouseCoopers has a truly integrated global business which enables us to offer a wider range of services to our clients and excellent national and international career opportunities to our people," said Ro-bert Fayolle, SV&GM chief executive.
Contractors with top-secret clearances are needed for a Navy project to build an underground facility. The project is being run out of the Washington Navy Yard and could be worth $250 million over five years. The work will be performed in the mid-Atlantic region. Bidders should have experience with complex special utility systems design, integration and installation of communication, computer and utility systems, and underground tunnel construction.
IBM Corp. of Armonk, N.Y., and Knowledge Well Inc. of Chicago formed a partnership in which IBM will offer Knowledge Well's interactive education programs to 30,000 of its developers. Knowledge Well will give the online classes in business and management at a discount. The company offers non-credit courses and accredited degree programs.