After enduring the stop-and-go traffic, the group finally arrived at One New York Plaza, located in the southern part of Manhattan. Standing 200 ters tall with 50 floors, the high-rise building overlooked the Staten Island and Governors Island ferry terminal.
Built in 1969, the building had an old and sowhat clunky appearance. The honeycomb-patterned design, with its recessed box-shaped windows, might have been a cutting-edge design at the ti of construction, but it now felt outdated and stifling.
Seok-won took a mont to admire the building, his gaze traveling upwards, when Landon provided so additional information beside him.
"As you can see, it's in a great location, right by the river and near the ferry terminal. It's especially convenient for avoiding the traffic hell by taking the ferry directly from Brooklyn or New Jersey. In fact, Mason here commutes from Jersey City across the Hudson River."
With real estate in New York notoriously expensive, renting in Manhattan was prohibitively costly for anyone but the super-wealthy or highly successful investors. Most people had no choice but to commute from nearby suburbs.
"What floor is our office on?" Seok-won asked.
"The 31st floor," Landon replied.
Nodding slightly, Seok-won followed Landon inside. The group passed through glass doors guarded by two uniford Black security guards, and they entered a spacious and elegantly decorated lobby.
Unlike the exterior, the interior had been remodeled several tis and now featured modern decor. The group crossed the lobby and took an elevator to the upper floors.
Given the building's height and the number of tenants, the design wisely included ample elevators, preventing any inconvenience.
After a brief ride, the elevator doors opened on the 31st floor, and the group stepped into a wide hallway. Landon led them to the first office on the left after rounding the corner.
"This is it," Landon said.
As soon as they entered through the glass doors, the first thing that caught their eye was a large golden logo on the reception desk that read "Eldorado Fund" in English.
The red-haired receptionist behind the desk stood up when she saw them, and Landon gestured to her as he spoke.
"Eva, et our fund's CEO."
Eva's eyes widened slightly before she flashed a bright smile. "Welco, sir."
"Nice to et you," Seok-won replied, nodding as he returned her warm greeting.
"Eva's like the vitamin that helps us all start the day on a fresh note," Landon said, leading Seok-won past the reception desk toward another glass door.
This door was more secure, requiring authentication to enter, unlike the one connected to the hallway. Landon pulled a security card from his pocket and inserted it into the reader, unlocking the door with a click.
"I made sure the office security was up to your standards, just as you requested," Landon explained.
"Good job," Seok-won responded.
In the investnt world, where every decision is directly tied to money, it is crucial to keep sensitive information from leaking out. Strong security asures were non-negotiable.
As they stepped through the glass door, a wide trading floor ca into view. With no buildings obstructing the windows, natural light flooded the space, making it bright enough that additional lighting wasn't necessary even during the day.
On one wall of the trading floor was a large electronic market board, and several large desks with multiple monitors were arranged facing each other. On the left side of the trading floor, private offices lined up with glass partitions, though about half of them were still unoccupied.
Landon scanned the employees working at their desks and gestured toward an older white man.
"Andrew! Could you co over here for a mont?"
A man wearing gold-rimd glasses, a blue shirt, and suspenders with a luxury brand logo turned away from his conversation with another employee and approached them.
"Let
introduce you to our fund's CEO," Landon said.
Andrew, who had instinctively adjusted his glasses, shifted his attention to Seok-won.
"Nice to et you. I'm Andrew Card."
Though it was their first in-person eting, Seok-won was well-acquainted with Andrew's background from the resu and personal details Landon had sent over. Smiling, Seok-won extended his hand.
"Pleasure to et you. I'm Seok-won Park."
After a brief handshake, Seok-won continued, "I hear you worked at Goldman Sachs for quite a while."
Landon jumped in to elaborate, "He was known as an ace in the derivatives and options division. It took a lot of effort to bring him on board."
Andrew modestly responded, "Landon is exaggerating."
Seeing Andrew's composed deanor, Seok-won gave him a silent nod of approval.
'A trader needs to avoid being overly cautious, but it's also problematic to be too aggressive,' Seok-won thought.
Especially since Andrew would be leading the trading floor and overseeing all investnts, he needed to be both calm and decisive.
While he'd need to observe Andrew further, so far, Seok-won was pleased.
"I've heard about your successes at Goldman Sachs. I'm looking forward to seeing what you can do here."
"I'll do my best not to disappoint you," Andrew replied calmly.
Seok-won, sensing the ti was right to lighten the mood, winked and said playfully, "If you achieve good results, your bonus here will far exceed what you got at Goldman Sachs."
Andrew responded with a slight smile, "I guess that ans I'll need to work even harder."
"Let's continue this conversation in the CEO's office," Landon suggested, taking advantage of the timing.
Seok-won nodded slightly and invited Andrew along as well. "You should join us too, Andrew."
"Of course," Andrew replied.
The CEO's office was designed with Seok-won's tastes and age in mind, combining clean lines with modern furnishings. However, the most impressive feature was the panoramic view of the East River and the ferries moving across it through the floor-to-ceiling windows opposite the entrance.
Having such a view in a Manhattan office, where skyscrapers crowded the horizon, was a privilege in itself.
"What do you think? Isn't it a spectacular view?" Landon said proudly, spreading his arms wide.
"The rent is high, but that's part of the reason we chose to set up our office here at One New York Plaza."
It was indeed a special view, not one everyone could enjoy, so it was understandable that Landon was proud. Seok-won stood by the window, looking down for a mont before turning back.
"It's certainly impressive, but I'm sure the view wasn't the only reason you rented this space."
"Of course not! The main reason was the dedicated communication lines connected directly to the exchanges."
In the world of trading, where a fraction of a second could an millions of dollars, having fast, dedicated communication lines was crucial.
"Although so institutions have moved elsewhere, many investnt banks and funds, including Chase and Salomon Brothers, are still here, so the communication infrastructure is top-notch."
"That's the most important thing, after all," Seok-won said, running his fingers over the desk he'd be using.
"What's the total square footage?"
"Six thousand square feet."
With one square foot equaling about 0.03 pyeong, 6,000 square feet translated to approximately 180 pyeong.
"That's not a small space," Seok-won remarked.
"Considering we have fewer than ten employees, it's quite spacious. Originally, I wanted to get sothing smaller, but there weren't any available properties under 6,000 square feet."
Running the company, Landon seed slightly regretful about the higher-than-necessary rent.
Seok-won, however, dismissed it casually. "As the fund grows, so will the staff. Think of it as securing space for future expansion."
"I hope that happens sooner rather than later," Landon replied, still with a hint of regret.
Seok-won moved to the seating area in the center of the CEO's office and sat down. "Let's sit and talk."
The large, spacious sofas could comfortably seat about ten people, with a thick marble table in the center, all imported from Italy.
Once Seok-won took his seat at the head of the table, Landon and Andrew sat across from each other on either side.
"It's been about a week since you started, right?"
"Yes."
"So, I assu you've had ti to get to know the staff and settle in. How's it going?"
Andrew seed to catch on to what Seok-won was hinting at, his eyes lighting up.
"We're done with the warm-up and ready for the real thing."
Once the office was set up, Seok-won allocated $10 million from the profits he'd made in the UK to Andrew's trading team, allowing them to trade autonomously.
But given Andrew's experience at Goldman Sachs, where he'd been used to moving tens of millions daily, that amount was likely to have felt stifling.
Landon, who knew Seok-won best, quickly picked up on the atmosphere and leaned forward.
"Do you have a promising opportunity in mind?"
Having heard from Landon about how Seok-won had made a fortune by investing in the British pound, Andrew looked at him with a mixture of hope and curiosity.
With both n's attention focused on him, Seok-won began seriously, "You've heard of a company called NCR, right?"
Andrew furrowed his brow slightly as he responded, "Are you referring to the company in Ohio that manufactures ATMs and PCs?"
"That's right. As expected, you know your stuff."
"NCR has a dominant position in the ATM market and has recently expanded into PC manufacturing, making it a promising company. But… I'm not sure what's particularly special about it."
Seeing Andrew's slightly disappointed expression, Seok-won's lips curled into a aningful smile.
"What if NCR were to be acquired?"
"…!" Andrew's eyes widened as he imdiately asked, "Did you say M&A?"
"That's right."
Nodding slightly, Seok-won continued calmly, "Before the year is out, AT&T will announce that they're acquiring NCR."
Andrew, hearing this, tilted his head with a puzzled expression.
"AT&T is a telecommunications company, and NCR is a computer manufacturer. They don't seem to have much in common. Are you saying AT&T is going to acquire NCR?"
"Why would you think they have nothing in common?"
"So, they do?"
From anyone's perspective, there didn't seem to be any overlap, so Andrew's brow furrowed even more deeply.
"You know that NCR's main business is ATMs."
"Yes."
"How do ATMs operate?"
"Well, they're connected to bank networks across various locations, allowing users to easily withdraw or deposit funds using magnetic cards… Ah!"
As he spoke, Andrew suddenly had an epiphany, letting out a gasp.
Seeing Andrew's realization, Seok-won smiled broadly, as if to say, "Exactly."
"Connecting nurous ATMs to bank networks is also a form of telecommunications."
Landon, who had been following the conversation, finally caught on and clapped his hand on his knee.
"That's right!"
Andrew, deep in thought, nodded slowly before speaking again.
"It does make sense now that you ntion it. But is that alone enough to justify AT&T spending a fortune to acquire NCR?"
"If that were the only reason, then no."
"So, there's another reason?"
"Of course. You both know that one of the hottest topics right now is the computer industry."
Both n nodded in agreent.
Ever since IBM introduced the personal computer (PC) in 1981, the market for personal computers had exploded, with nurous IBM-compatible models flooding the market and companies like Apple with their Macintosh gaining significant attention.
"Many futurists predict a new era where PCs will be connected via telecommunications to exchange information, much like ATMs are connected to bank networks."
"But wouldn't it be difficult to connect every ho with telecommunication lines?" Landon asked, sounding a bit skeptical.
Although the future would see the internet becoming as ubiquitous as air, at this ti, the Internet was mainly restricted to universities, large corporations, or governnt offices.
Moreover, the costs associated with telecommunications were so high that it was hard to imagine individuals freely using such services.
'If I were to say that in ten years, people would be using the internet while walking around, they'd probably think I was crazy.'
But that was the inevitable future.
'Co to think of it, Netscape, the pioneer of web browsers, is set to be founded soon.'
Although it wouldn't last long and would eventually be overshadowed by Microsoft, Netscape was the company that launched the dot-com bubble.
'It's a unicorn I can't afford to miss out on.'
ntally adding Netscape to his shopping list after Apple, Seok-won continued speaking.
"Whether it actually happens remains to be seen. However, AT&T, which generates billions of dollars annually from its landline business but isn't content with just that, would naturally be interested in the burgeoning computer market."
Andrew adjusted his gold-rimd glasses as he responded, "That's a plausible argunt, but it still seems like there's not enough evidence to definitively say AT&T will acquire NCR."
Hearing this, Seok-won seed to have been waiting for this mont. He pulled two photographs from his inner pocket and placed them on the table.
Andrew's eyes widened as he looked at the photos, clearly shocked.
"That's…!"
Grinning, Seok-won said, "As you can see, these are Robert yer, the chairman of AT&T, and Hillshu, the chairman of NCR."
"…!"
"What are the odds that these two n would coincidentally visit the sa hotel on the sa day?"
"…"
"Especially in Atlanta, far from their company headquarters."
Andrew stared intently at the photos, which showed the two chairn stepping out of their respective limousines in front of a hotel. Finally, he looked up, swallowed hard, and spoke.
"As you said, there's definitely a major deal in the works between the two companies."
TL/n -
rger
A rger happens when two companies combine to form a new company. It's like two friends deciding to join forces and share their toys, creating a bigger and better toy collection together. The goal is often to beco stronger and more competitive in the market.
Acquisition
An acquisition occurs when one company buys another company. Think of it as one friend buying another friend's toy collection. The buying company takes control of the acquired company, but the acquired company might still keep its na and brand.
Why Do Companies rge or Acquire? =>
Growth: Companies can grow faster by combining resources.
Efficiency: They can save money by reducing duplicate operations.
Market Power: They can increase their market share and influence.
Diversification: They can expand into new markets or product lines.
Example:
Imagine a big tech company buying a smaller startup with innovative technology. The big company gains new technology and talent, while the startup gets more resources to develop its ideas.
***
NCR Corporation, now known as NCR Voyix and NCR Atleos, is a prominent Arican technology company. It was originally founded as the National Cash Register Company in 1884. Here's a brief overview of the two new entities:
NCR Voyix: This branch focuses on digital comrce solutions for the retail, restaurant, and digital banking industries. They provide innovative technology and services to enhance custor experiences and drive business growth.
NCR Atleos: This division is dedicated to expanding financial access through self-service channels, such as ATMs, and supporting financial institutions and retailers.
NCR has a long history of innovation, from early cash registers to modern digital comrce solutions.
***
AT&T acquired NCR Corporation through a hostile takeover on May 7, 1991, for approximately $7.5 billion. However, the acquisition did not et expectations, leading to significant financial losses for AT&T. Eventually, AT&T decided to spin off NCR as an independent company again in 1996.
***
Netscape Communications Corporation, originally known as Mosaic Communications Corporation, was a pioneering company in the early days of the Internet.
Here are so key points about Netscape:
Founding: Netscape was founded on April 4, 1994, by Jim Clark and Marc Andreessen.
Netscape Navigator: Their web browser, Netscape Navigator, quickly beca the dominant browser in the mid-1990s, capturing over 90% of the market at its peak.
Innovations: Netscape introduced several key technologies, including JavaScript (created by Brendan Eich) and SSL (Secure Sockets Layer) for secure online communications.
Acquisition by AOL: In 1999, Netscape was acquired by AOL in a deal valued at approximately $10 billion.
Decline: Despite its early success, Netscape's market share declined rapidly due to competition from Microsoft's Internet Explorer. AOL eventually discontinued support for the Netscape browser in 2008.
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