INPR - Inprise to Borland (BORL) Message Board

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Technology Stocks : INPR - Inprise to Borland (BORL)

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To: David R who wrote (4387)	2/8/2000 3:23:00 AM
From: Dennis Nicks	Read Replies (2) of 5102

My problems with the INPR/CORL merger: 1. Merger of equals is BS, INPR shows up with $200 million and positive cash flow, CORL shows up with $20 million and a tax benefit "earnings" surprise. Software business model moving towards service-based which INPR is positioned for. CORL is focusing on desktop market where the kid next door offers services for a 6-pack of beer. 2. Deal is not synergistic. Distribution channel for shrink wrap (CORL) is what INPR has been getting away from. Possible Linux OEM deals means nothing for INPR (when was the last time you bought a Dell with a preloaded "Developers" package). Bottom line, INPR and CORL are different. Future savings may be possible on the R&D front. 3. Cowpland is not a model CEO. Just a few weeks ago, this CEO of a company with its own Linux distribution shows up with a presentation on a laptop running Win98. Fuller has consistently referred to Del Yocam acting like a "rock star." Dr. Cowpland is that type of guy and more. I hope he sold a bunch of software to the English Royal Family on his latest smoozing trip: canoe.com:80/CNEWSLife9905/14_cowpland.html How can a guy run a company when he has so many social engagements?! 4. CORL's balance sheet stinks even more than INPR's. At least INPR can show that they are executing on their business plan to provide "independent" enterprise computing solutions. 5. Cowpland is about as articulate as Mr. Ed the talking horse. There is nothing worse than listening to some guy with a huge ego stand up and mumble for 20 minutes. 6. The new CORL Board has Fuller and maybe 1 more director (my guess is Coats). Again, not good. A merger of equals should be just that, equal representation on the board. 7. I have not seen any CORL shareholders that are against the merger. There are plenty of INPR shareholders that are upset. This, more than anything, shows how poor of a deal we are getting. These issues will need to be addressed for me to vote my shares for this one. These guys have a lot of convincing to do in the next few months. Dennis

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