H. Ross Perot may be moving back into the technology spotlight.
Perot Systems Inc., the Dallas-based processing and consulting firm founded in 1988, has filed with the Securities and Exchange Commission for an initial public offering this year, saying it hopes to raise $115 million.
The manager is Morgan Stanley, Dean Witter & Co. Proceeds would be used for general purposes, such as working capital and business expansion. The stock would also be used to help retain key employees, said spokeswoman Kim Testa.
Mr. Perot owns 41% of the company, which had revenue of $781 million last year and $452.7 million in the first half.
Nearly a quarter of the 1998 revenues came from an outsourcing contract with the Swiss bank UBS.
Besides providing financial services outsourcing, systems integration, and consulting work, Perot Systems targets the energy, health, and travel industries. It owns the prominent banking industry consulting firm Benton International Inc.
The larger company Mr. Perot founded, $15 billion Electronic Data Systems Corp., announced Thursday that Lester M. Alberthal, who succeeded Mr. Perot as chairman, will step down when a successor is found.
Mr. Alberthal, 56, said he wanted to spend more time with his family.
He was under fire from institutional investors for missing earnings projections.
Shares of EDS rose $6.625, closing Friday at $41.8125.