The fact that IBM is getting its ImagePlus system from Filenet Corp, Costa Mesa, California – with optical disk drives from Laser Magnetics International Co – should come as a substantial fillip to the FileNet share price, which rose just 50 cents to $15 even after the IBM announcement, although most people in the market probably did not know on Tuesday that the system did come from Filenet: the current price compares with a 52-week high of $21.50 so there is plenty to go for in the shares, which should get a two-fold benefit from the IBM announcement, the direct benefit of the IBM OEM business being compounded by the fact that with IBM putting its seal of approval on the concept, the whole market is likely to look much more seriously at optical disk filing systems; and if, as we said the other day, Stratus Computer was one of Olivetti’s most successful venture capital investments, Filenet is another – the Italian still has a small stake in the company, and markets the Filenet products in Europe; and yes, IBM seems to have paid Olivetti’s skills in picking winners a striking compliment, since it now sells both Stratus and Filenet products, both first spotted by the Ivrean.
