RRRR - ICC Technologies/Rare Medium Message Board

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Technology Stocks : RRRR - ICC Technologies/Rare Medium

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To: Musya who wrote (641)	4/21/1998 7:10:00 PM
From: Abuckatatime	Read Replies (1) of 954

Skeptics abound. This from the Motley Fool: fnews.yahoo.com ICC Technologies (Nasdaq:ICGN - news) , a manufacturer of climate control systems, is pulling a Diana Corp. in deciding to diversify by acquiring "Internet services business" Rare Medium. Diana Corp. was the meat and seafood distributor, Georgia's largest, that decided to get into the data switching business. Its stock experienced regular doublings in 1996 before tumbling off the New York Stock Exchange. It now trades as Coyote Network Systems Inc. in the pink sheets. Sure, ICC shouldn't be ridiculed for allocating capital to a growing industry, but with its stock trading at nearly three times its week-ago level, the investors were quite quick to add $85 million to its market cap in light of the fact that the deal could have been largely stock-financed, meaning the added market cap was larger than just $85 million with new shares thrown in there. Add the uncertainty of a humidifier company's executives getting into a totally different line of business where the real talent could bolt as soon as any golden handcuffs expire, and this week's move was a heady one.

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