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Technology Stocks : ASDV- Aspect Development-THE NEXT MSFT!
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To: Peter Haynes who wrote (162)4/18/1998 9:28:00 PM
From: Ajay Aggarwal  Read Replies (1) of 414
 
Aspect Announces FTC Investigation Relating to Acquisition of CADIS, Inc.
MOUNTAIN VIEW, Calif., April 16 /PRNewswire/ -- Aspect Development, Inc. (Nasdaq: ASDV - news) announced today that the Federal Trade Commission (FTC), which is investigating certain potential antitrust issues arising out of Aspect's November 1997 acquisition of CADIS, Inc., has issued a civil investigative demand and subpoena requesting certain information and documentation with respect to the company's business. This action by the FTC followed a preliminary investigation that was disclosed in the company's quarterly earnings release on April 15, 1998. Although the CADIS acquisition required no premerger notification under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 because of the size of the parties involved in the transaction, the FTC's demand is similar in scope to that of a request for information by the FTC that may follow such a premerger notification.

While the company intends to cooperate with the FTC's investigation, it does not believe that its acquisition of CADIS was in violation of federal antitrust laws. The company does not believe that the outcome of the FTC's investigation will have a material adverse effect on the company's business or results of operation, although there can be no assurance of that.
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