Cabletron sets date for spin-off
Cabletron Systems has announced that August 6 will be the day the company rides into the sunset by completing the final spin-offs of its subsidiary companies.
Cabletron says its subsidiary, Enterasys Networks, will become its own publicly traded company on August 6, listed on the New York Stock Exchange as ETS. For each Cabletron share held, shareholders will receive two Enterasys shares. Also on August 6, Cabletron stockholders will receive 1.02 shares of Riverstone stock for each Cabletron share they hold.
It is unknown at this stage how the announcement will affect Cabletron's Australian operations.
MS bends on licence deadline
Companies under financial pressure by the October start date for Microsoft's new software licensing program say the vendor agreed to push the deadline for enrollment out another five months in response to threats of platform defections and other protests.
Microsoft's initial plan was for companies with Open (five or more licences) and Select (250 or more licences) volume-licensing agreements to sign on for Microsoft's new upgrade program, Software Assurance, by October 1. But customers squawked because the plan, which replaces all other upgrade options and requires a yearly fee, could prove costly.
The new deadline is February 28, 2002.
Compaq moves to cut more jobs
Compaq Computer announced plans last week to lay off another 4000 workers because of continued weak demand for its systems, increasing the total number of jobs that are due to be eliminated this year by the computer vendor to 8500.
Compaq said it expects second-quarter operating earnings to be consistent with current projections by financial analysts, with revenue coming in at about $US8.4 billion - down 9 per cent on a sequential basis and $600 million lower than the company's original goal.
Compaq Australia had gone into a "quiet period" when contacted by ARN and would not speak to media.