Foolish Dealbook: CDW Programs a Deal
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The tech distributor gives investors a nice present.
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Madison Dearborn Partners will acquire the CDW Corporation, a leading online computer reseller, for $7.3 billion.
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This deal is not cheap, but it provides some critical assets.
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A deal with an advertising agency shows TiVo making some fancy moves.
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THE deal of the week was made by Knight Frank. It was not a piece of commercial property but a piece of human resource - it has poached Craig Watson from Cushman & Wakefield, Healey & Baker.
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Cheap for a reason, or great opportunities? We investigate.
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The new rebate scheme isn't simple. Here's how to make the most of it.
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Don't mind the mergers. Watch the valuation.
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CDW is the latest IT company keen to go private, a move that could give the large U.S. computer reseller the freedom to tinker with its business and growth plans without having to spell out those intentions every quarter for investors.
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Some CDs come with bells and whistles; be sure you understand how they work.
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Is Microsoft's offer too low, too high, or just right?
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Computer retailer CDW Corp.   on Tuesday said it agreed to be bought by Madison  Dearborn Partners LLC for $7.3 billion, after its shares rose  on an earlier report that it was in takeover talks.
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Shares of CDW Corp.  rose 9 percent early on Tuesday following a report that the computer technology retailer may be a takeover target from private equity firms.
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Exclusive A CD lock-in tech that only annoys P2P traders?
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Here's an investing plan for you, from A to Z.
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(InfoWorld) - The specter of moderate global IT growth continues to hang over vendors' financial news, which this week includes IBM's stock buyback, distributorÂ CDW's plan to go private, andÂ layoff news from Motorola. These moves are examples of how tech companies are dealing with global IT growth that most analysts say will be moderate -- somewhere in the 6 percent to 7 percent range. That's not a bad growth rate for a mature industry but nowhere near the double-digit growth rates that IT saw in the late 1990s. In this climate, organic sales alone are often not enough to achieve the kind of growth that inspires investors and instills confidence in volume buyers. The types of moves announced this week often provide temporary excitement but leave questions about long-term consequences. IBM announced Tuesday it completed part of its previously announced stock buyback program, purchasing 118.8 million shares for $105.18 per share. That equals about $12.5 billion. IBM shares closed the day of the announcement at $105.91, up by $0.73. One reason investors like this sort of news is that with fewer outstanding shares on the market, companies find it easier to report robust per share growth. The long-term question, though, is whether companies would be better off spending money on product development, equipment, acquisitions, or other investments. IBM is considered an R&D leader, so in this case, the stock purchase was not criticized. Another way of dealing with the pressure of having to show steady growth quarter after quarter is to simply get out of the public stock market altogether. CDW's announcement this week that it entered into a pact to be acquired by private-equity investment firm Madison Dearborn PartnersÂ for $7.3 billion is one such move. With the announcement, on Tuesday, CDW followed in the footsteps of similar moves to go private by companies, such as electronic payments companyÂ First DataÂ and customer information management software developerÂ Acxiom. The advantage of going private is that it's easier to focus on long-term strategy when company managers have to deal with a small cadre of investors. But new owners sometimes strip company assets and sell them off or enact drastic cost cutting measures. To assuage customers (and employees) John Edwardson, CDW chairman and CEO, said in a conference call Wednesday that he didn't expect layoffs and that CDW management would stick around. CDW shares jumped to $83.11 on the day of the announcement, up from $75.56 the day earlier. Cost cuts are another way of dealing with a tight market and falling profits. On Wednesday, Motorola said it will lay off 4,000 workers, expanding previous plans for layoffs. The company, which lost money last quarter, said the latest move would save $600 million annually. While investors often applaud cost control measures, staff reductions ultimately do nothing for the central issue facing tech companies: product development and marketing. Addressing this issue Wednesday in an investors meeting, CEO Ed Zander said the company willÂ increase profits by developing an array of multimedia mobile devices rather than rely on single blockbuster products like its Razr phones. Investors took a "show-me" stance. Company shares lost ground on the day of the announcements. Dell fared better after it announced, late Thursday, thatÂ it will cut its 78,800-strong workforce by 10 percent. Within 30 minutes of the announcement, made as part of its quarterly report, Dell shares jumped in after-hours trading by $1.63. Dell profits have slipped over the past year, and it is still embroiled in an accounting inquiry, but investors have applauded cost-cutting moves by Dell over the last few months, especially because they have been accompanied by complementary plans to break with tradition and start selling through retail.ADVERTISEMENTIBM Information On Demand 2006Industrial Industry Leaders, please join us at IBM's premier information management global event, IBM Information On Demand 2006, October 15-20, Anaheim, CA. More IBM business and technical solutions content in one place than ever before! Select from  over 800 sessions. Register today!
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Rumors of an Apple-TiVo deal may be overdone.