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Article: Tarantella Needed To Woo New Moon To Join Its M&A Dance.(New Moon Systems)
- Article from:
- Mergers & Acquisitions Report
- Article date:
- July 7, 2003
- Author:
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Tarantella Inc. had a reluctant target in New Moon Systems, said Tarantella's chief financial officer.
"They were not enamored with us," said Randy Bresee, CFO of Santa Cruz, Calif.-based Tarantella. Bresee described both companies as "being strapped for cash," although New Moon was the stronger of the two, with $3 million in cash versus Tarantella's $500,000.
On June 6, Tarantella, a maker of network infrastructure management software applications, closed its $5.4 million stock acquisition of privately held New Moon. Bresee said Tarantella dealt with the San Jose, Calif.-based company as a competitor for approximately one year before deal talks began ...