Informix Shares Could Rise to 15 in a Year, Business Week Says
Menlo Park, California, Oct. 5 (Bloomberg) -- Informix Corp. shares could rise to 15 in a year as newly appointed Chief Executive Peter Gyenes focuses on turning the company around, Business Week reported in its ``Inside Wall Street'' column.
Gyenes said last month he plans to split Informix into two independent companies, one for database programs and the other to provide electronic-commerce software. He plans to take the electronic-commerce software unit public this year, the magazine said.
The database software unit's shares would be worth about $9 each, or two times sales, the magazine said, citing T.J. Duncan of Frontier Capital Management. Duncan bought 3.3 million shares of Informix because of Gyenes's experience in turning companies around, the magazine said.
The electronic-commerce software unit's shares would be worth $6 each, or about 10 times sales, Business Week said, citing Duncan. The database software unit has annual sales of $840 million and the electronic-commerce software unit has sales of $130 million, the magazine said.
Informix shares fell 3 cents to 3.78 today. They've fallen 48 percent over the past year.
Oct/05/2000 19:21 ET |
