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November 9, 1988


By CBR Staff Writer

Palo Alto-based Cadnetix Corp’s quest for a white knight to see off its unwanted suitor Daisy Systems Corp, Mountain View, looks as if it has failed, and the company is thought to be ready to bow to the inevitable to have opened talks with Daisy. And it will be worth a little more to Daisy than it might have been, because it announced this week completion of the two acquisitions it was in process of making on its own account before Daisy struck – those of HHB Systems Inc and Simucad Inc. Cadnetix paid 1.5 of its own shares for each HHB, valuing the company at about $60m and will run it as a wholly-owned subsidiary. It paid 700,000 shares for Simucad – valuing the company at $6m, and will absorb it into HHB. It is now thought ready to accept a price close to the $188m or so cash Daisy is offering.

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