The shareholders of Mandrakesoft, France, have agreed to expand the issuance of stocks to raise more $ 7.3 million in acquisition funds.
The Mandrakesoft16 release sounds, and the shareholders will be approved by the 13th price of 6 euros ($ 7.31) in the price of up to 1 million shares. The company's stock has a market price of 5.69 Euro ($ 6.93).
The chairman Jacques Le Marois said when he accepted the visit: "We need this money to clean up the balance sheet."
At present, the company is making money, but in 2003, due to financial issues, please, bankrupt, in 2002, or even request product users to help.
Finishing new funds, allowing Mandrakesoft's stocks to list transactions in the new market management of Euronext, not just in unreportable free markets. (MARCHE LIBRE). Le Marois said the company's first public issued stock (IPO) in 2001, which has been traded in Marche Libre.
Move stocks to managed exchanges, investors easier to buy mandrakesoft stocks, and let the company make it easier to raise funds needed to acquire the expansion, Le Marois said.
This stock is a "PIPE" transaction, which is private investment publicly launched shares (Private Investment In A Public Equity). Le Marois said that investors come from Europe and the United States, and most of them have shareholders' identity. He expects this wave of sale and conversion exchanges to be completed before the end of the year.
Mandrakesoft is negotiating with "several companies" to negotiate, the price is between 1 million and 3 million euros (US $ 1.2 million to $ 3.6 million), Le Marois said. Such companies usually employees have from 15 to 40 people.
The Mandrakesoft Shareholders will also agree to the acquisition of service company Edge IT, which is a service and support company with only six people, headquarters in France. Mandrakesoft currently has approximately 65 employees, Le Marois said.
After walking out of bankrupt shadow, this Linux is working hard to expand its business. During the nine months of July 31, the company profits 1 million euros and revenue has accumulated 4 million euros.
Mandrakesoft's flagship product is Mandrakelinux, which is not easy to compete with Linux, such as Red Hat, Novell, etc..
Robert Frances Group analyst Stacey Quandt said: "Their market visibility is low. Although there is a group of desktop computer users, but not enterprise users."
In this way, Mandrake is targeting the new version of Linux products in the market. New products include two servers that lock small businesses and large companies, as well as software for enterprise desktop computers.
In 2003, 40% of Mandrakesoft revenue was self-founded in the North American market. The French market accounted for 22%. The total of other parts of Europe also accounted for 22%. The company's Mandrakeclub value service (including download, supplementation software, discount price and other discounts) Users are located in North America. (CNET Technology Information Network / Tang Huiwen)
Source: http://www.zdnet.com.cn/
