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Technology Stocks : IFMX - Investment Discussion
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To: Marc Slovak who started this subject9/21/2000 9:41:21 PM
From: bob zagorin  Read Replies (1) of 14631
 
Informix's Gyenes on Forming Two Independent Companies: Comment

Menlo Park, California, Sept. 20 (Bloomberg) -- The following are comments made by Peter Gyenes, chairman, president and chief executive of Informix Corp., a database-software maker, at an SG Cowen Securities Corp. conference in Boston.

Informix yesterday warned it will have a third-quarter loss and said it's cutting 400 jobs and splitting into two companies to boost sales and profit. Informix will form two independent companies, one for database programs and the other to provide electronic-commerce software that works with rival databases.

``What we have found is that trying to operate both of these businesses under one company called Informix has simply not worked. We haven't generated enough focus. We haven't generated enough momentum. We haven't generated enough identity in the marketplace.''

``So we decided that the best thing for us to do to capitalize on the opportunities in each of these markets is to separate into two independent companies.''

``There was clearly a lack of focus spread across five business groups. There just wasn't enough clarity of message, clarity of mission.''

Gyenes said he will push for ``rigorous and ruthless and unambiguous focus,'' in each market. He said that the new electronic-business company will be profitable next year.

Sep/20/2000 19:40 ET
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