Jack,
Clearly the only way out for Altris is a buyout. But, why Open Text? Just because they have enough and the right amount of money - doesn't make it a smart move. I think if I was in Finance at OTEXF and I wanted to disguise my targets, which I would want to do (who on the buying side actually wants the target stock to go up?) -- I would "invent" an amount like $36.5M to cause speculation in the wrong places.
Right now the two companies (OTEXF and ALTS) are completely different. And I agree that can be used as a positive, but I'm not wholly convinced yet that OTEXF/ALTS is a fit with long term synergy.
As for ALTS? I think there's always some chance that Data General would buy them (well, there is a *very* small contingent of people there that would want to) but it doesn't fit their overall business. It will hurt the DG Imaging Business Unit to have Altris product disappear -- they will certainly be supportive of someone taking them over and maintaining the line.
Who else? DOCSF? I think there is a better fit for DOCSF with Optika, if adding higher end imaging is where DOCSF wants to go, and I have no sense of that. I'm running out of ideas.
No, I think general purpose, transaction oriented imaging is going the way of the dodo bird. Even FILE knows that (I think) and is pouring out energy, as yet the results unseen, in the document management space.
If you agree with me on that last point, then perhaps you'd also agree that it is better for OTEXF to do what DCTM does and package some high value applications together and differentiate from Lotus/Microsoft in that manner. They won't need transaction oriented imaging tools to do that except in a very few specific industries.
Just my deux cents... |
