Company News

Burroughs-Sperry Deal Completed

The New York Times

Detroit -- September 16, 1986 -- The Burroughs Corporation said it had completed its $4.78 billion purchase of the Sperry Corporation with approval of the transaction by Sperry shareholders and the filing of legal documents. ''Our plans for integration are proceeding according to schedule,'' W. Michael Blumenthal, the chairman of Burroughs, said.

Sperry accepted Burroughs's bid in May. The combined companies created the nation's second-largest computer manufacturer, after the International Business Machines Corporation. Burroughs said a new name for the combined companies would probably be announced in October.

Copyright 1986 The New York Times Company