Alltel and Systematics merge complements phone business l-ini-K WVK tAl' Once the pajerork uivmj te, Systematic tin one of the nation' leajing financial soft are tuinpa iiH-s. Mtll U-cunie a ubidury of Allu I a major Uvommu nicalions linn that prvvidet local telephone service to 1 1 million cu-u mh rs in 25 state Slurt-hulder of Systematic atij Allu I arevdoverfciit'lminly un May 3 inere their companies, eiWtive May 31 The iiit plans ere announced Maah i 1'nder terms of the merger, each share of Systematic com inon Uk ill be enhanced tax-free for 1 325 shares of Allu I com mon stock. John SU'un, chairman, president an chief executive officer of Systematic, told his shareholders Wednesday that AllU'l vull pay a 32 cents per-share dividend on July 3 to all shareholders of record on June 8, including su k-holders of Little Kock-based Systematics The enlarged Alltel, with head quarters in Little Rock and Hud son, Ohio, will have about $2 4 billion in assets, $14 billion in revenue this year and 10,800 employees. The me rger also means that the Stephens family of Little Rock, led by Jackson T. Stephens, becomes the largest single share holder of Allul 8 per cent of Systematic Uatk, worth 1228 2 million at the close of business Wednesday alsa own 1 ti5 million shares of Allu I Lxk and, upon completion of the merger, will own 10 5 percent of the telecommunication company' sunk. It's Mai Allul and Svle in at ic huldmgs were valued Wednesday at 22 2 million Joe Kurd, president and chief executive officer of Alltel, ftaid Wednesday that tlie merger puts Allu I in other lines of business to complement the telephone busi ness In addition to it local tele-phone company ope rations. Alltel also has other subsidiaries and investment in companies that provide cellular telephone and long distance service, communication product and other related service Information services will be a key industry in the liWOs and Systematic will help propel Alltel into being a leading provider of those services, Ford said Steun said the distinctions between the telecommunications and software industries are becoming blurred. He also said Systematics has a growing list of customers that have asked if Systematics could provide telecommunications and other services normally provided by companies such as Alltel. will yourM Ni aged weigh gv'ing can pat in swiu say aside nesday Super-mat president bot, system, prices income an April, said The Realtors afTbrda-bilitv April, the 104.6
