LYCOS RETRIEVER 
Computer Associates
built 660 days ago
In 1987, Computer Associates made its largest purchase yet, acquiring rival Uccel for about $830 million in stock. Uccel had been a competitor in the market for systems utilities software, so the purchase strengthened Computer Associates' already strong systems utilities sector, adding 7,500 customers to CA's base of 26,000 while eliminating a rival company. The purchase temporarily made CA the largest independent software company, ahead of Microsoft, whose strengths lay in software for personal computers. CA ... had far more products, marketing about 200 kinds of software to Microsoft's 26 and Lotus's 15.
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In October 2000 Computer Associates proclaimed a new business model, which featured a new accounting as its centerpiece. As with other enterprises that created all sorts of pro forma earnings during the last five years or so, Computer Associates produced a New Accounting that just happened to generate better results than GAAP. The reader's problem then and now is whether these numbers are better for the shareholders than good old-fashioned GAAP numbers.
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Computer Associates began expanding, hiring salespeople and programmers, and in 1978 Wang's brother Tony, a lawyer, joined the firm. Sales of SORT generated enough money for Wang to buy new programs from smaller firms and market them to customers who already owned SORT. Wang's success allowed him to buy out the original Swiss company in 1980. The company went public in 1981.
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While the accounting fraud was occurring, defendants Kumar, Richards and Woghin received ill-gotten gains in the form of compensation they received from Computer Associates. In addition to committing securities fraud, the defendants interfered with the SEC's investigation. During the course of the SEC's investigation, Kumar made materially false and misleading statements in a joint proffer session with the SEC and the United States Attorney's Office. During the same relevant period, Richards made materially false and misleading statements in sworn investigative testimony and Woghin encouraged several Computer Associates employees to make false and misleading statements to the SEC and/or Computer Associates' outside counsel.
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Computer Associates' ambitious restructuring was hindered in a legal dispute with rival Electronic Data Systems Corporation (EDS) beginning in 1991. EDS accused Computer Associates of unfair business practices including monopoly and licensing fraud, breach of contract, and misuse of copyright. In early 1992, CA countersued, accusing EDS of pirating its software and wide-scale fraud. Customers of both firms worried that the dispute would distract attention from service.
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Other vendors covered in the report include: AEP, Array, Check Point, Computer Associates, Intrusion, McAfee, Secure Computing, SonicWall, Top Layer, WatchGuard, and ZyXEL. The network security market is segmented based on Synergy's domain expertise, and the numbers are derived from a proven methodology that reconciles vendor reported shipments (bottoms-up measurement) with publicly reported revenue results (top-down measurement) to provide the utmost accuracy.
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