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Article: Steering Software AG
- Article from:
- New Straits Times
- Article date:
- April 10, 2000
- Author:
CopyrightProvided by ProQuest LLC. (Hide copyright information)
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Lim Chong
New Straits Times
04-10-2000
Steering Software AG
Byline: Lim Chong
Edition: Computimes; 2*
Section: Outlook
AS head of Europe's largest systems software provider, Erwin Konigs has shown that he is not afraid to make tough decisions. One of them was to make Germany-based Software AG public in April last year.
Konigs, as chairman and chief executive officer, worked hard to convince the company's shareholders including founder Peter Schnell to agree to the initial public offering (IPO). It was the largest ever software company IPO, worth a record US$436 million (RM1.7 billion).
Unfortunately, the IPO was undertaken during a time of slowdown in the software industry due to the ...
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