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.
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.
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.
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.