Phonettix founder regains control of firm

Article Abstract:

Phonettix Intelecom Ltd.'s founder Dorothy Millman has regained control of the C$35-million call center and telemarketing business based in Toronto, Ontario. Along with Dorothy Millman's husband, Larry, and Royal Bank Capital Corp., the three combined their voting power to oust the company's board of directors. The Millmans converted their 491,167 series of 2 preferred shares of Phonettix Intelecom into 5,836,803 common shares. The move reflects the start of a corporate restructuring aimed at saving the company, which lost C$577,639 during the third quarter in 1998. Dorothy Millman will sit on the new board of Phonettix Intelecom, which is Canada's largest independent call center operator.

Comment:

Founder Dorothy Millman regains control of the C$35-mil call center & telemarketing bsns after exercing her conversion rights

Organizational history, Telephone Answering Services, Answering services, Phonettix Intelecom Ltd.

---

Sadler to leave Geac board, stirring speculation about a deal

Article Abstract:

Geac Computer Corp. Ltd.'s vice president, Stephen Sadler, is stepping down from his seat on the board of directors, creating stronger speculation that the Markham, Ontario-based software company is nearing another large deal. Sadler's departure from the board also solicited a negative reaction from investors, who fear that he may be leaving the company, but the executive said that the stock's drop was an overreaction from investors. Analysts believe that Sadler is stepping down from the board to concentrate more on acquisitions.

Comment:

Vice President Stephen Sadler is stepping down from seat on board, creating stronger speculation that co is nearing another deal

Electronic Computer Manufacturing, Computers & Auxiliary Equip, Executive changes & profiles

---

Geac to acquire Britain's JBA

Article Abstract:

Geac Computer Corp Ltd will acquire JBA Holdings PLC, the second-biggest software firm in the UK for $205 million. The acquisition will enable Geac to surpass the billion-dollar revenue level. Geac will pay GBP2.50 per share (C$5.98) for 37 million JBA shares. Geac's cash offer is reportedly 70% premium over JBA's share price before the acquisition was announced. Geac's acquisition will enable it to enter into the enterprise resource planning software market niches which JBA has a considerable market share.

United Kingdom, Canada, Software Publishers, Asset sales & divestitures, Acquisitions & mergers, Computer Software, JBA Holdings PLC

Similar abstracts:

• Abstracts: Alliance founder cuts sweet deal. PBS picks Toronto firm to fill children's TV slate
• Abstracts: Barrington gives up fight against Sunoma. ASC starts hearings into stock fiasco at Cartaway. Hearing set on Manalta poison pill
• Abstracts: Gates firm focuses on future of photo images. 3Com rethinks mode of profit beyond modems. Microsoft unloads Sidewalk Web sites

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.