December 5, 1995 |
SoftKey International Inc. raised its hostile takeover bid Monday for computer software maker Learning Co. to about $606 million, topping a friendly offer by Broderbund Software Inc. by about 8%. SoftKey, which also raised the rhetoric in its battle with Broderbund, said it is offering to buy slightly more than 8.59 million shares of Learning Co. for $65 a share in cash and will swap its stock for any remaining Learning Co. shares.
August 1, 1995 |
In what would be the biggest merger to date in the exploding educational software industry, Broderbund Software Inc. and Learning Co. said Monday that they plan to combine the two firms in a deal valued at $440 million. Novato, Calif.-based Broderbund has long dominated the consumer educational software market with "edutainment" products such as its Living Books and Carmen Sandiego series, but the firm has been looking for a partner to broaden its reach into the lucrative school market.
March 6, 1997 |
Broderbund Software Inc. stock plunged 24% after the software maker said fiscal second-quarter earnings won't meet Wall Street estimates because it cut prices to stimulate sales. Shares of Broderbund fell 7 3/8 to 23 1/8, making it the seventh-biggest percentage decliner on U.S. markets. The maker of such software titles as "Where in the World is Carmen Sandiego" and "Myst" is suffering because it was forced to cut prices to try to keep up with aggressive competitors like Microsoft Corp.
December 8, 1995 |
Ending an often-nasty five-week takeover battle, SoftKey International Inc. on Thursday overcame rival Broderbund Software Inc. and reached an agreement to acquire educational software maker Learning Co. for $606 million. SoftKey's successful bid, combined with its earlier acquisition of Minnesota Educational Computing, makes it the largest company in the fast-growing educational software market. Learning Co.
December 7, 1995 |
By the standards of corporate America, where multibillion-dollar mergers and takeover battles have become routine, the fight for educational software maker Learning Co. is a small-time affair. Broderbund Software Inc. of Novato, Calif., is currently offering $530 million in cash and stock for the company in a friendly offer, while hostile rival SoftKey International Inc. has bid $606 million in cash. It's chump change compared with Disney's $19-billion merger with Capital Cities/ABC Inc.
July 15, 1998 |
Intel Corp., the world's top maker of computer chips, said Tuesday that its second-quarter profit fell a greater-than-expected 29% as sales faltered. The company also warned that the third quarter will show little if any improvement. Profit dropped to $1.17 billion, or 66 cents a diluted share, from $1.65 billion, or 92 cents, in the year-ago quarter. Analysts expected earnings of 68 cents, according to First Call Corp. Sales slipped to $5.93 billion from $5.96 billion.
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.