| SAN FRANCISCO, Sept 21
SAN FRANCISCO, Sept 21 Dell Inc DELL.O said
on Monday it will pay $3.9 billion for Perot Systems Corp
(PER.N), the computer services company founded by former U.S.
presidential candidate Ross Perot.
The Texas-born Naval Academy graduate failed twice in his
bid for the White House, but he was more successful in
business, founding and selling a company to General Motors and
bankrolling Steve Jobs' NeXT with a reported $20 million.
The following are some key dates for Perot. (For the
complete story on the deal, click on [ID:nN21265091]):
June 27, 1930: Ross Perot is born in Texarkana, Texas
1949: He enters the U.S. Naval Academy in Annapolis,
Maryland, after two years at Texarkana Junior College.
1957-1962: He works as a salesman for IBM, according to a
June 27, 1962: Perot founds data services company
Electronic Data Systems (EDS), incorporating it in Texas with a
$1,000 loan from his wife. The name was something he wrote on a
pledge envelope during a service at Highland Park Presbyterian
Church in Dallas.
Sept. 12, 1968: EDS goes public, selling shares for $16.50.
By October, the company has a market value of $378 million.
Annual revenue is $7.7 million.
1983: Ken Follet writes "On Wings of Eagles," a book about
the 1979 rescue of two EDS employees imprisoned in Iran.
June 27, 1984: General Motors Co [GM.UL] buys EDS for $2.5
billion. The deal is finalized on Oct. 18 and EDS becomes a
wholly owned subsidiary. Perot joins GM's Board of Directors.
1986: Perot leaves GM's board of directors after sharply
criticizing management. GM buys him out for $700 million.
1987: Perot gives $20 million to Steve Jobs to help
bankroll NeXT Corp to build workstation computers for the
education market. Perot takes a 16 percent stake in the company
and a seat on the board, according to Owen Linzmayer's book
"Apple Confidential 2.0."
June 1, 1988: Perot founds Perot Systems Corp over
breakfast with eight associates.
1989: Perot Systems gets its first customer, insurance
holding company ICH.
1992: While a guest on Larry King Live, Perot says he will
run for president if his supporters will petition to get him on
the ballot in all 50 states. He ultimately wins 19 percent of
the popular vote after quitting and rejoining the race.
Sept. 1995: Perot forms the Reform Party, whose platform is
based broadly on reform and the budget.
1996: Perot runs again for president, as a member of the
Reform Party. He wins 8 percent of the popular vote.
Feb. 1, 1999: Perot Systems goes public, offering shares
for $16. The company begins trading the next day on the New
York Stock Exchange under the ticker "PER." Annual revenues
were over $1 billion.
2000: Perot distances himself from the Reform Party,
endorsing Republican George W. Bush over Reform candidate Pat
2000: Perot's son and Perot Systems co-founder Ross Perot
Jr is named president and chief executive of the company.
Sept. 2004: Perot is named chairman emeritus of Perot
Systems, his son becomes chairman, and Peter Altabef is named
president and chief executive officer.
2008: Perot launches the PerotCharts.com website, focused
on fiscal policy.
Aug. 26, 2008: HP acquires EDS for $13.9 billion.
Sept 21, 2009: Dell says it plans to buy Perot Systems for
$3.9 billion. The Perot family owns roughly 30 million shares,
or a roughly 25 percent stake. Ross Perot Jr. will be
considered for appointment to the Dell board.
Sources: Reuters, Encyclopedia Britannica, Hewlett-Packard
Development Company website, Perot Systems Corp website, Apple
Confidential 2.0 by Owen Linzmayer, TIME
(Reporting by Clare Baldwin; editing by Andre Grenon)