P.M. BRIEFING : Communications Mergers Rise
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NEW YORK — The dollar value of mergers and acquisitions in the computer and telephone industries rose 13% last year to a record $33 billion, according to an investment firm that tracks such deals.
Broadview Associates of Ft. Lee, N.J., said its figures include companies that offer telecommunications services, communications and computer hardware or software products and related services. The 1990 total surpassed the old record of $29.5 billion set in 1989.
Leading the list was the GTE Corp.’s pending $6.2-billion merger with Contel Corp., which Broadview called the largest information industry merger of all time.
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