September 12, 1998 |
Learning Co., the No. 1 education software maker, said it will cut 500 jobs and shut a California plant of its newly acquired Broderbund Software Inc. unit to reduce expenses by $50 million a year. Broderbund makes the best-selling computer fantasy game "Myst." The plant in Petaluma, Calif., will be shut in November, while various Broderbund offices in Novato, Calif., will be consolidated into one. The Cambridge, Mass.-based company, which completed its acquisition of Broderbund on Aug.
January 20, 1998 |
The consumer software market reached about $5.5 billion in worldwide revenue last year, a 15% increase, buoyed by strong sales to repeat customers and well-known brands, a study said. Home education software led all categories, with sales rising 17% in 1997, according to market researcher International Data Corp. Revenue in games and entertainment, the largest consumer software segment, grew about 15%, driven by strong demand for games that involved a lot of graphics.
June 16, 1998 |
Shares of Broderbund Software Inc. fell as much as 18% after the entertainment software maker said it will report a loss for the fiscal third quarter and has hired investment banking firm Donaldson, Lufkin & Jenrette to explore its strategic alternatives. Broderbund shares fell $3 to close at $17.19 on Nasdaq. Its stock has dropped 21% in the last year as the maker of the best-selling "Myst" and "Where in the World is Carmen Sandiego?" games struggled to duplicate past success.
March 31, 1998 |
Broderbund Software Inc. said it fired 70 employees, or 6.4% of its 1,100-person worldwide work force, to cut costs as the expense of marketing its popular "Riven" fantasy game rose more than expected. The education- and entertainment-software maker said the firings will be across the company, but most of the positions will be eliminated at the firm's Novato headquarters and Petaluma and Mountain View offices, said Eric Winkler, Broderbund senior marketing manager.
June 3, 1998 |
Broderbund Software Inc. shares rose 8% after a trade publication reported the struggling entertainment-software maker may be bought by Hasbro Inc. or another software company. Broderbund shares rose $1.25 to close at $16.75 on Nasdaq. On Monday, the stock closed at $15.50, its lowest price in more than five years, in a broad tech sell-off.
May 22, 1997 |
Novato-based Broderbund Software Inc. said it has formed a division that will produce strictly entertainment computer games, including some that can be played by several people simultaneously over the Internet. The Red Orb Entertainment unit will publish action and war games that might not appeal to traditional customers of Broderbund, best known for educational software games such as Where in the World Is Carmen SanDiego?