Feeds

PointCast rejects founder's buy-back offer

Deadline on second bid passed with no move from push company

  • alert
  • submit to reddit

The essential guide to IT transformation

Former PointCast CEO Chris Hassett has been rejected by the company he founded after the ailing push technology provided let his second offer to buy the company lapse. Hassett made a bid for PointCast earlier this month, following the collapse of a deal with a consortium of US local telecoms companies (see PointCast ex-CEO looks to re-acquire company). That failure in turn led the company to axe one third of its work force as current CEO Phil Koen (not the guy behind the telco deal -- that was his predecessor, David Dorman) began his attempt to streamline the business to make it more attractive to investors and, more importantly, possible buyers. Hassett's bid, however, appears to have demanded too much control from the company's current leaders, and was rejected. Further negotiations led to a second bid, made on Monday. However, according to sources cited on US newswires, PointCast allowed the deadline on Hassett's latest offer to expire. The same source claimed Hassett has now abandoned his plan to buy the company. The search for a backer continues... ®

5 things you didn’t know about cloud backup

More from The Register

next story
True fact: 1 in 4 Brits are now TERRORISTS
YouGov poll reveals terrible truth about the enemy within
Microsoft exits climate denier lobby group
ALEC will have to do without Redmond, it seems
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
7 Elements of Radically Simple OS Migration
Avoid the typical headaches of OS migration during your next project by learning about 7 elements of radically simple OS migration.
BYOD's dark side: Data protection
An endpoint data protection solution that adds value to the user and the organization so it can protect itself from data loss as well as leverage corporate data.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?