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Technology Stocks : Information Architects (IARC): E-Commerce & EIP

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To: Robert K. Sims who wrote (5729)	4/21/1998 8:42:00 AM
From: Rich Dee	Read Replies (1) of 10786

Article in The Charlotte Observer today: Alydaar looks at life after 2000 Investment banks sift acquisition options By DAVID BORAKS Staff Writer Charlotte-based Alydaar Software Corp. has hired a pair of investment banks to advise it on possible acquisitions designed to ensure its future after year 2000-related computer contracts trail off in the next few years. Chairman and chief executive Robert Gruder said Monday that its advisers have identified several unnamed acquisition targets that would broaden Alydaar's business from a near-total reliance on year 2000 consulting work to include a range of computer services. ''They would be good synergy with our technology and would bring significant life after 2000,'' Gruder said. ''The end focus is to be a full-service systems integration provider.'' Alydaar's advisers are First Albany Corp. and Hanifen Imhoff. Alydaar shares fell 25 cents to $17 on Monday. Gruder said he hopes to sign agreements on some acquisitions in June. But before then, Alydaar is asking shareholders to approve several measures designed to make acquisitions easier. In a filing with the Securities and Exchange Commission on Monday, Alydaar proposed increasing the number of shares it may issue from 20 million to 50 million. It also wants to increase the number of directorships so it can offer board seats to officials from companies it may acquire. And it wants to increase the number of shares in its stock-option plan from 1 million to 3 million. Shareholders will be asked to vote on the proposals at the annual meeting at 2 p.m. May 22 at The Park Hotel, 2200 Rexford Road. Reach David Boraks at (704) 358-5235 or boraks@charlotte.com .

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