Press: Cendant to put travel unit up for sale
Laptop Battery Cendant could be planning to put its travel business, which includes Orbitz, CheapTickets.com and Galileo International, up for sale in a deal that could be worth more than $4 billion, the New York Times said.
laptop computers is driving strong sales for notebook computers, according to the latest quarterly sales figures from the research firm IDC, which reported a 37% computer sales for the second quarter, compared with a year earlier. In the U.S., laptop sales grew 17.7%, while sales of desktop computers and servers fell 4%. The New York Times ( 10), CNET ( 10)
Thinkpad Sale of the travel business, recently renamed Travelport, would represent a change of plans for Cendant, which had been set to spin off the unit as part of a larger plan announced last October to break up the entire conglomerate into four separate publicly traded companies, the Times said.
According to the indictment, Jones would steal various IBM and Penguin computer servers from Verisign's warehouse in Virginia and sell them to Johnson. Johnson would then sell the servers to several individuals, who would sometimes place them for sale on eBay. As a result of this scheme, the indictment alleges that Jones and Johnson caused Verisign to lose more than $120, 000 worth of computer equipment. In the indictment, Jones and Johnson are charged in three counts with causing the interstate transportation of stolen property, namely IBM 330 and 335 servers, in violation of 18 U.S.C.
Microsoft The decision to sell the travel unit came after Cendant received several unsolicited offers for the business from private equity firms, including the Blackstone Group, the report said, citing people briefed on Cendant's plans.
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Laptop Computers Cendant feels selling the unit is preferable to spinning it off largely because private-equity players are expected to be able to pay more for the division than the public markets may have valued it, the paper said.
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As CFO of The Mark Travel Corporation, a $1.5 billion travel package provider with multiple travel businesses and a travel technology company, Trisept Solutions, Hyland implemented its first integrated planning process (strategic and financial). Prior to his position at Mark Travel, Hyland was the CFO for Galileo Americas, the global distribution system owned by the Cendant Corporation. While at Galileo, he improved profit per employee by 56% and was honored as one of Cendant Travel Distribution Services employees of the year.
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