Mr. Wyly, a colorful 65-year-old Texas entrepreneur, sold his company, Sterling Software, to Computer Associates last year for $4 billion, pocketing several hundred million dollars.
Analysts reacted favorably to the news of the investment by E.D.S., which was founded by H. Ross Perot, the Texas entrepreneur.
Borrowing from the Ebay model, a Texas entrepreneur and inveterate inventor has started a similar Internet auction clearinghouse for intellectual property.
However soon Texas entrepreneurs pioneered the beef industry and demand steadily increased.
It was the second significant acquisition within a week for the 36-year-old Texas entrepreneur, who announced on Thursday that he would buy The Houston Post for $150 million.
Just a year earlier, a 34-year-old Texas entrepreneur named David P. Cook had set up the first Blockbuster video store.
"Steve and his team have done it again," said H. Ross Perot, the Texas entrepreneur who is backing Mr. Jobs.
In 1885, Richard King, the south Texas entrepreneur and founder of the King Ranch, died at the Menger.
"I grew up five blocks from Arkansas," the Texas entrepreneur said.
If approved by shareholders, Systems will be Sterling's 20th and second-largest acquisition since its founding in 1981 by a Texas entrepreneur, Sam Wyly.