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Technology Stocks : Active Software Inc (ASWX)

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To: $Mogul who wrote (20)	8/14/1999 6:44:00 PM
From: Srinivasan Balasubramanian	of 105

From WSJ Active Software Active Software Inc.'s shares opened at their $11-a-share offering price and closed hands at $14, a 27% premium to the offering price. The shares were priced in the middle of the expected $10 to $12 range. Underwriters were led by Goldman Sachs & Co. Founded in 1995 by two former Sun Microsystems Inc. engineers, the Santa Clara, Calif., company makes so-called middleware business-integration software enabling companies to exchange information over the Internet or extranets by making incompatible applications talk to one another. Active's competitors include firms like CrossWorlds Software Inc., International Business Machines Corp. and Tibco Software Inc., which held a highly successful IPO in July. Like most start-ups, Active is still posting red ink. For fiscal 1998, the firm had a net loss of $9.9 million, or $3.21 a share, on revenue of $7.6 million. For the six months ended June 30, Active posted a new loss of $5.3 million, on sales of $8.7 million.

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