View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
April 7, 1987

ASHTON-TATE WITHDRAWS OFFER OF STOCK AFTER ITS SHARE PRICE DETERIORATES

By CBR Staff Writer

Ashton-Tate Inc, Torrance, California, has postponed indefinitely its public offering of about 2m new shares. Ashton-Tate was the one major micro software company to see its shares fall in instant reaction to the IBM Personal System/2 announcement, on the fear that IBM’s planned SQL relational database building blocks to be integrated into its OS/2 Extended operating system will hurt Ashton-Tate’s dBase III. That product presently accounts for about 60% of Ashton-Tate’s $200m or so annual turnover. Ashton-Tate’s shares had traded as high as $29 in February, but uncertainty fuelled by the IBM announcement has driven them down into a $22 to $24 trading range. A key problem for Ashton-Tate is that because of US security laws that bar a company from talking about anything that is not contained in the prospectus after a share issue has been announced, the company has been unable to explain its plans for countering any threat that might be posed by IBM’s forthcoming database offerings. The company will now be talking to analysts next week.

Content from our partners
Powering AI’s potential: turning promise into reality
Unlocking growth through hybrid cloud: 5 key takeaways
How businesses can safeguard themselves on the cyber frontline

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU