Jay, I have no idea. I can't imagine the Macmillan deal creates much immediate revenue for Accent, but maybe I'm wrong. Given the amount of money the company spent last year, with little to show for it, I suppose any deal that creates a potential future stream of revenue is great news. Irrespective of any business deals, the buying might have been related to a positive atmosphere after Accent's annual meeting in Israel yesterday. There are many people who made money on Accent last year and sold it before the stock collapsed. They might have confidence that the new President is turning the company around and have decided to buy back in. Plus, Accent terminated several high level employees who probably cashed out on their options. Maybe some of the selling pressure is over and Accent is finally participating in the recent rise of Nasdaq small technology caps? It's all speculation on my part.
Earlier this year, one could have legitimately feared the company could go bankrupt in 1997. I hope the market no longer has these concerns and is starting to believe that the company could be a money maker with outstanding growth potential by early 1998. Up 30+% in one day is great...but let's see if the share price stays above 2 tomorrow.
Here is the press release from May 27th:
Accent Software International Ltd. Announces Development
Agreement with Macmillan Digital Publishing USA
COLORADO SPRINGS, Colo., May 27 /PRNewswire/ -- Accent Software International Ltd.
(Nasdaq:ACNTF) announced today that it has entered into a development agreement with Macmillan
Digital Publishing USA, a subsidiary of Viacom Inc. (AMEX:VIA).
Under the agreement, Accent will utilize its proprietary technology to develop an electronic CD-ROM
version of Webster's New World Dictionary and Thesaurus(TM). This product will allow users to
interactively access the definition of and alternate word choices for any word appearing in Windows
applications.
``We are pleased that Macmillan continues to use Accent as its development partner. This agreement
furthers Accent's strategy to be the premier provider of language solutions for software products,''
stated Todd A. Oseth, President & CEO of Accent Software International Ltd.
``Webster's New World Dictionary and Thesaurus is universally recognized as the premier dictionary
of American English. The addition of Accent's innovative language technology promises to make the
CD-ROM version an indispensable resource for writers and public speakers,'' stated Doug Bennett,
President of Macmillan Digital Publishing USA. |
