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Safeguard Services Inc history
Safeguard Services Inc company history timeline
The remaining shares were sold on the market, which dictated a price of $5 on the first day, giving Safeguard shareholders who had purchased Novell stock an immediate 100 percent profit. It continued to prosper, and, in 1984, Safeguard offered its shareholders a "rights offering" of Novell stock.
In 1985, Safeguard reported earnings of $3.3 million on sales of 58.8 million.
Shareholders were appeased, but the incident, Musser told Barron's in 1986, "cost us about two years of our lives."
When it posted a $13 million loss in 1987 and laid off two-thirds of its employees, Safeguard focused the company in another direction.
By 1990, CompuCom was Safeguard's biggest operation, with earnings of $3.6 million on sales of $343.3 million.
When it failed to turn a profit by 1990, Safeguard replaced members of the company's executive team with management from Novell and Safeguard.
Unwilling to invest in a heavy marketing operation, Safeguard sold Unison to Trippe Manufacturing Co. for $1.8 million in 1991.
By 1993, Safeguard was managing partnerships with 15 different companies.
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Safeguard Services Inc may also be known as or be related to Safeguard Services Inc and Safeguard Services, Inc.