Facing a takeover battle, McAfee ends Cheyenne bid
Article Abstract:
McAfee Associates drops its $1 billion bid to take over Cheyenne Software, saying that Cheyenne's refusal to discuss the deal has made a friendly merger impossible. McAfee Pres and CEO William I. Larson expresses regret over the failure, stating that the mix of McAfee's anti-virus software and Cheyenne's network management software would have been a good strategic fit. Had the merger succeeded, the resulting company would have been the fifth-largest software firm in the US. Cheyenne not only publically rejected the merger after what McAfee characterized as months of discussion, it also filed suit, claiming that McAfee tried to take advantage of a short-term drop in Cheyenne's stock. Analysts say that McAfee's decision is sensible, since a software company's greatest asset is its engineers, who could resign at any point during or after a hostile takeover. McAfee's stock rose $1.25 to close at $62.50 on May 1, 1996, on news that the merger was dropped, while Cheyenne's stock fell 17.7%, or $4.25, to close at $19.75.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1996
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Microsoft prepares 'Bob,' a guide for PC novices
Article Abstract:
Microsoft Corp is preparing to introduce Bob, a new software program designed to make PCs easier for beginners to use. Bob features 14 cartoon-like characters, each with its own personality and degree of helpfulness. The characters provide verbal instructions to Windows users, enabling them to interact with a PC in a more natural and user-friendly manner. The characters have the ability to learn a user's preferences and level of expertise and adjust the level of help accordingly. Microsoft hopes that its Bob interface will alleviate some of the intimidation novices feel when faced with using a computer for the first time. Microsoft is also hoping that the product will enable the company to win some of the home market away from Apple. Until now, Apple's foremost advantage over Microsoft in the home market has been the ease of use of its products. Bob, which is expected to cost $99, will be available in late Mar 1995.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1995
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New software seeks end to long waits on Internet
Article Abstract:
Marimba Inc's Castanet software will make it faster for companies to distribute information over the Internet. Users will be able to select the information and graphics they want downloaded from Internet servers on a 'time release' basis. This approach enables users to view the information at their convenience and eliminates the long waits generally associated with downloading information from the Web. Castanet may also have a large influence on the way software is tracked and distributed over company networks. The software enables software upgrades to be automatically distributed during off hours. Marimba is funded by a $4 million investment from the JavaFund. The company faces competition from many companies that are developing applications for retrieving Internet information.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1996
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