Discreet pulls out of MGI takeover

Article Abstract:

Discreet Logic has withdrawn from its proposal to takeover of MGI, the US software maker, which it is accusing of breaches of contracts. Discreet, which said that it has the right to abandon the proposal, did not elaborate on the allegations. A company spokeswoman confirmed that Discreet is talking with MGI to end the deal and has requested a Toronto, Canada court to postpone the bid. Industry analysts believe that the event was caused by worries over the decline in the company's share price and criticisms thrown on Discreet's intended takeover.

Comment:

Has withdrawn from proposal to takeover of MGI, the US software maker, which it is accusing of breaches of contracts

Asset sales & divestitures, Acquisitions & mergers, Germany, Computer Services NEC, Computer Systems Design and Related Services, Information technology services, Discreet Logic Inc., Article, MGI Group Inc.

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Avid's VP Davies quits post early

Article Abstract:

Avid Technology's international vice-president Peter Davies resigned in light of the firm's unsatisfactory results at European and UK-based units. The company will not replace Davies as it attempts to cut costs, and instead will split Davies' responsibilites between European sales VP Graham Sharp and Asian sales VP Andrew Thornton.

United Kingdom, Europe, Sales, profits & dividends, Executive changes & profiles, Officials and employees, Appointments, resignations and dismissals, Avid Technology Inc., AVID, Maxwell Davies, Peter

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Big Issue

Article Abstract:

Graphics animators from Softimage, Hiroshima University, Digital Domain, Alias, and many others prepare to showcase their latest innovations at the annual Siggraph 2000 exhibition in New Orleans. Many experts predict the field will soon be redefined by faster and cheaper technologies.

Canada, Marketing procedures, Public affairs, Innovations, Conferences, meetings and seminars, Hiroshima University, Special Interest Group on Computer Graphics, Digital Domain Inc., SOFTIMAGE Inc. (Montreal, Quebec), Alias\\Wavefront Inc.

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