 |
     |
 |
 |
|
Control Data Corporation was a major owner of Computer Peripherals, Inc. (CPI), which had a computer printer manufacturing division in Rochester, Michigan. CPI also had magnetic recording and storage divisions in Stevenage, England, and Valley Forge, PA. The printer division generated revenue in excess of $70 million, but was facing severe competition from Japanese suppliers, thereby threatening long-term success. Phil Arneson, then President of CPI, decided to get maximum value from this asset before it was too late. Searching for a strategic partner, Arneson merged the printer division into Centronics Corporation, a leading supplier of computer printers. The transaction was successfully completed.
| |