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October 18, 1998

DATAWORKS CONSOLIDATES WITH 10% WORKFORCE CUT

By CBR Staff Writer

DataWorks Corp, which agreed on Thursday to be acquired by financial software house Platinum Software Corp (CI No 3,518), says it is streamlining its operations, cutting staff worldwide by 10%. It says severance costs will be included in one-time charges in its third and fourth quarters. DataWorks anticipated that it would show a slight profit on revenues of between $43m and $44m for its third quarter, ending September 30. The full results are due to be announced on Thursday 22. The company says that the recently launched Avante 8.3 release of its ERP software combines the functionality of three of its previous products into a single package, which has enabled it to consolidate its operations. Platinum Software plans to acquire the company in a deal worth around $93m.

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