Vision Solutions Awaits Outcome of Hostile Bid for Parent
Another New Executive at Access360; Newport Buys Flextronics Technology
TECHNOLOGY
by Andrew Simons
Tiny Vision Solutions Inc. seems an unlikely character in an international hostile-takeover drama, but it is.
The Irvine-based company is sitting with bated breath as Toronto-based DataMirror Corp. pitched a $9.8 million hostile takeover bid for its parent: South Africa-based Idion Technology Holdings Ltd. Idion’s board recently rejected a bid by DataMirror, which offered a 70% premium for Idion’s shares. Idion is traded on the Johannesburg Stock Exchange.
DataMirror sounds confident: “We look forward to completing this transaction and combining forces,” said chief executive Nigel Stokes.
When Idion acquired Vision Solutions in 2000, some Idion officials balked at the $62.5 million price Idion was paying, calling it too high. Vision Solutions makes clustering software, which allows several networked servers to act as one, making it easier to add servers during times of heavy network traffic.
At the time, Idion director Marius Vlok, the father of 27-year-old chief executive Nicolaas Vlok, complained about the price and resigned his position. Quarreling with his son, he questioned whether Idion should buy Vision Solutions at all, a decision the younger Vlok defended. Nicolaas Vlok took over Vision Solutions as the chief executive.
Of course, the present takeover bid is causing its share of controversy. Institutional investors largely oppose the deal and expect that Nicolaas Vlok will not come on board in the bid. Idion has secured advisers.
Neither Idion nor Vision Solutions officials were available for comment.
More Changes at Access360
Irvine’s Access360 Inc. continues to shuffle its management. The most recent move comes at the company’s European office, where the company hired Jean-Charles Cointot, former European vice president for Santa Monica’s XDrive Technologies Inc., as the regional manager of southern France. He will be based in Paris.
“Jean-Charles has a proven track record in managing businesses throughout Europe. We’ve worked together in the past and have enjoyed many successes as a team. His consistency in delivering beyond revenue expectations mean great things for Access360,” said Access360 chief executive Paul Gigg.
Cointot’s appointment comes amid a slight shuffling at Access360. Gigg, an XDrive alum himself, came to Access360 in October, replacing founder Yuri Pikover, who remained as chairman. Last month, the company hired Alex Lazar as the vice president of North American sales.
Flextronics, Newport Strike Deal
Flextronics Photonics, a subsidiary of Singapore’s Flextronics International Ltd., sold part of its optical gear manufacturing to Irvine’s Newport Corp. in a recent deal. The acquisition will allow Newport to form a basic method for packaging fiber optics.
In addition to the cash royalties for the gear, Newport also will give Flextronics preferential pricing for any products developed out of the deal, according to terms of the agreement. Newport also gets to be the only provider of photonic gear for Flextronics Photonics around the world, the companies said.
Myrient Revamps Sales
It stinks to pay a lot to sell your products. That’s the thinking at Aliso Viejo’s Myrient Inc. which recently formed a new reseller program. Under the program, the company is signing up a commission-only sales force and value added resellers,a change from the company’s direct sales approach.
Myrient makes software that helps manage networks and fix system interruptions. It sells most of its products to small and medium-size businesses.
SageTree Finishes Ford Work
Irvine’s SageTree Inc., a maker of software that eases the management of a company’s supplies, recently finished installing its software for Ford Motor Co. under a deal signed last year.
SageTree and Teradata, a subsidiary of Dayton, Ohio-based NCR Corp., are providing the software and services that will allow Ford to track parts that need repair through its North American distribution centers. The system is now in use.
“Ford needed a solution that could handle large volumes of data and identify which shipments were most important to meeting service level and cost management objectives,” said SageTree chief executive Jerry Hill.
Bits:
Mission Viejo-based Blue Owl Technologies is trying to boost business interest in its software that saves energy used by your computer with a program this month. New orders received in April by corporations with 1,000 or more computers will receive a discounted price along with free customization services. The company claims it can save companies of 1,000 people up to $50,000 a year in energy costs Irvine’s Rainbow Technologies Inc. garnered honors in SC Magazine, a security trade industry publication. Rainbow’s authentication token, a piece of hardware that allows users access to secure computers, received an “Editor’s Recommended” award for March Ron Vangell, chief executive of content management software Gauss Interprise Inc., Irvine, has been appointed to serve a two-year term on AIIM International,the Association for Information and Image Management,an industry association that connects users and suppliers of content management software.
