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October 26, 1995

DIAMOND WILL BUY SPEA AS IT WAITS ON HAYES

By CBR Staff Writer

Meantime Diamond Multimedia Systems Inc, which has already offered $158m for Hayes, has solved for Spea Software AG the problem facing all German high-tech companies – try to get cash for expansion from an unfriendly Frankfurt banking establishment or float on Nasdaq in the US, by buying the company. Diamond, San Jose has definitive agreement to acquire Spea, Munich designer, developer and marketer of add-in graphics accelerators and multimedia subsystems for personal computers, for 2.2m new Diamond shares or shares worth $61.5m, whichever is lower. Spea did $107.4m sales last year and $73.2m for the nine months to September 30, but it lost $2.4m last year, and $14.1m so far this year.

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