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NATION / WORLD: TECHNOLOGY

Affiliated Computer to Buy BRC Holdings

October 20, 1998|Bloomberg News

Affiliated Computer Services Inc., which operates the second-largest non-bank network of automated teller machines, said it will acquire BRC Holdings Inc. for about $261 million, or $19 a share, in cash. Affiliated Computer wants Dallas-based BRC so it can gain a larger market share for managing computer systems for state and local governments. Affiliated Computer said it will begin a cash tender offer within five business days for about 51% of BRC's outstanding shares. After regulatory and shareholder approval, Affiliated Computer, also based in Dallas, would buy the remaining shares. The transaction is expected to close in December. Affiliated Computer shares fell 13 cents to close at $28.75 on the NYSE, while BRC Holdings rose $1.75 to close at $18 on Nasdaq.

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