Spea Software AG, has spelled out how its adoption by Diamond Multimedia Systems Inc means an end to developing under cash-starved conditions. Starnberg, Germany-based computer graphics specialist Spea passed into the ownership of Diamond of San Jose, California last month. Diamond bought all 212,600 shares, with 10 Diamond shares offered per Spea share. The total transaction volume amounted to around ú71m. Spea founder and former majority shareholder Ulrich Seng said lack of money over the 10 years since the company’s start-up had placed considerable constraints on the company’s ability to meet demand for its products. Now, he said, Spea will be able to process its order backlog much faster. Had he had sufficient capital in the beginning, he said, turnover would have been much higher than the ú140m being forecast for 1995. Seng, who was described as the guiding light of Spea by Diamond Multimedia president and chief executive Bill Schroeder, will be given a consultancy contract and will look after some of Spea’s up-and-coming multimedia subsidiaries. Former Spea chairman, Hans-Christoph Wolf, will initially belong to the Spea supervisory board, and may take on other operating tasks at a later date. Schroeder confidant David A Bonaker is now the chairman of Spea.
