News
NetManage to Acquire Wall Data
- By Scott Bekker
- 10/21/1999
NetManage Inc. (
www.netmanage.com) has announced that it has entered into a definitive agreement to acquire all outstanding shares of Wall Data Inc. (
www.walldata.com). The acquisition follows in the wake of a series of financial setbacks for Wall Data, including the resignation of its founder and CEO in August.
Wall Data is known for its Rumba brand PC-to-host connectivity solutions, primarily for the IBM market. NetManage's eN2000 strategy has been moving the company toward server-based connectivity, Web-to-host solutions and application integration servers. The acquisition of Wall Data will strengthen NetManage's existing product line, accelerate product development and increase market share.
Prior to the acquisition by NetManage, Wall Data suffered a number of financial setbacks. In August the company sold their 10 percent equity in DataChannel (www.datachannel.com) in order to raise cash. This announcement came just four days after the founder and CEO of Wall Data, John Wall, announced his resignation. On the same day, the company announced that it anticipated an operating loss of between $11.5 million and $12.5 million for the first quarter of 2000. -- Isaac Slepner
About the Author
Scott Bekker is editor in chief of Redmond Channel Partner magazine.