UK: SHARES DROP FOR INVENSYS DUE TO BAAN BIDS

Article Abstract:

Shares in the UK maker factory controls, Invensys, dropped on 17th July 2000 due to the oncoming bid for Dutch software company, Baan, going ahead. The problems with the bid at the moment are coming from ING, the Dutch financial services company, which refuse to sell a 5.9% stake in Baan. The reason behind the refusal is due to the fact that ING will benefit more from Baan's liquidation than sale, earning as much as GB[pound] 71mn in tax deduction and GB[pound] 235mn for a third of its share. Baan is already on the verge of collapse and need Invensys to make a takeover bid. If Invensys is successful, ING would stand to lose 80-90% of its investment. Invensys needs 95% of Baan in order to successfully complete a takeover. Invensys has considered waiving a clause and making the takeover conditional on receiving support from at least 95% of holders of stock.

Manufacturing Computer Systems, Computer based manufacturing, Baan, ING Bank N.V.

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A year is a long time in cyberspace

Article Abstract:

There have been a number of significant developments in information technology in 1998. There has been a strong revival at Apple Computer, while online book retailer Amazon.com has established a presence in Europe. Dixons and Energis launched Freeserve, a subscription-free Internet service provider, while Microsoft launched Windows 98. Media attention relating to information technology has particularly focused on the anti-trust lawsuit against Microsoft.

Analog & Hybrid Computers, Systems Software Pkgs (Micro), Telegraph & other communications, Management, Microcomputers, Internet service providers, Operating systems (Software), Information technology

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UK: MORE PROFIT WARNINGS FROM TECHNOLOGY FIRMS

Article Abstract:

A report from the accountants, Ernst & Young, has revealed an increase in the number of computer services and software companies issuing profit warnings. The survey, which showed a total of 45 firms issuing profit warnings, saw 10 software companies issue warnings. Poor sales was the main factor behind the warnings for eight out of the ten software firms.

Computers, Sales, profits & dividends, Ernst & Young L.L.P.

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