ON Technology Corp, which agreed to sell off its network management and security products business to Israeli conglomorate Elron Electronics Industries Ltd last November (CI No 3,290), says it’s now completed the sale. Elron gets the On Guard Firewall and internet manager products and the SoftTrack metering software, paying $12m in cash and $1.5m cash bonus to be paid based on the performance of the assets. It takes on around 100 staff. ON is left to focus on the enterprise desktop mangement software business with its product ON Command CCM, and groupware with its MeetingMaker real-time scheduling software, and NoteWork and DaVinci email products. Desktop management and groupware sales will be handle by two separate business units. ON’s new chief executive officer, Herman DeLatte, previously chief operating officer of Micrografx Inc, said that with the restructuring behind it and a stronger balance sheet, the company could now look forward with focus and confidence. Last year ON reported losses of $7m compared with $4.8m profit last time, on revenues down 6% to $41m.
