Informix is buying up its loss-making data warehousing rival, Red Brick Systems for $35 million.
Red Brick, founded in 1986 as a consulting firm called Applied Decisions, went public in 1996. Its stock soared for a time, but the company made losses throughout 1998, and shares were trading this week at just over $2 - a far cry from the heady days of $30-plus.
Red Brick's Relational Online Analytical Processing (Rolap) technologies have a good reputation, and Informix said it intends to sell and support the entire portfolio, integrating it into the Informix Decision Frontier family.
Bob Finnochio, Informix chief executive and president, said: "Through this acquisition, Informix is combining the most powerful datamart and data warehousing technology and consulting expertise, outstanding partnerships and expert distribution channels into one company." Neither company would comment on possible redundancies, but Informix confirmed that Red Brick's research and development, marketing and consulting divisions will be folded into the Informix data warehousing unit. Customer support, administration and sales will see a similar fate.
Headquartered in Los Gatos, Red Brick employs around 250 staff worldwide. Under the terms of the agreement and subject to approval, each share of Red Brick common stock will be exchanged for 0.6 share of Informix common stock, and the deal is expected to close before 1999.
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