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The previous acquisition was a $130 million deal last week for Cloupia, a provider of cloud services technology.
To be sure, thirteenth- and fourteenth-century Italian paintings lack the popular clout of works by Leonardo or van Gogh, but you'd think more people would be curious about something that cost more than double what the Met had spent on any previous acquisition.
It was a bold move considering that regional department stores like Ames were just beginning to face crushing competition from national competitors like Wal-Mart and Target and that Ames itself had filed for Chapter 11 bankruptcy protection in 1990, a result of too much debt from a previous acquisition.
Lufthansa, which fared better in the global economic crisis than its two main European rivals, said this month that it would cut 3,500 jobs as it wrestled with the impact of a previous acquisition binge, as well as tough competition from low-cost and Middle Eastern airlines.
Storycode actually has been through one previous acquisition.
The bid was $1.2 billion, twice the size of Onex's largest previous acquisition.
Similar(40)
The results were hurt by charges related to two previous acquisitions, and from costs associated with layoffs and company restructuring.
Strategically, the VMware purchase is somewhat different from EMC's previous acquisitions, said Joseph M. Tucci, the chief executive.
"Frommer's is even more content-rich" than previous acquisitions by Google, he said.
The company also disclosed that it would write off $15 billion to $20 billion of good will from previous acquisitions.
Previous acquisitions by the software giant's video game division include Bungie Studios, maker of the megahit Halo games, and Rare, formerly a developer for Nintendo.
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