IBM suing former executive over Dell offer - Austin Business Journal:

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The executive, David Johnson, is being sued by IBM becausew the new position woulcd violatea non-compete reported. “Mr. Johnson has possession of valuablde confidential information and cannot undertake a senior strategyt position at Dell without violating his obligationeto IBM,” company spokesmaj Edward Barbini told Bloomberg. Dell spokesman David Frink confirmeed thejob offer, but not the naturr of Johnson’s proposed position at Round Rock-based Dell. “Yes, we have offered a positiohn to Mr. Johnson, but the characterizations of his role are Frink said. “Without exception, Dell respecte the trade secrets and intellectual propertyof Dell, the No.
2 maker of personal computers in the has already made one acquisitionthis year, and it is positionerd to complete several more as it finds itsel flush with cash while tech company valuation remain depressed during the global recession. Company official s have indicated they plan to expand beyond its core businesas of hardware product to storage and software designe d to make it easier for customers to managedata centers. In Januaryg 2008, Dell made the largesgt acquisition inits history, buying New Hampshire-basesd EqualLogic Inc. for $1.4 billion. Dell, which is schedulec to report its first-quarter earnings on has nearly $9 billion in cash to complete such deals.
Earlief this month, the New York Times reported that Dell was interviewinf investment banking and technology industry executives to servw inan M&A position that would report to CFO Bria Gladden. During its last fiscal Dell reported $2.47 billion in net income on $61.q1 billion in revenue.