Computer Business Review

ROSS DELAYS REPORT WHILE ASSETS ARE VALUED

CBR Staff Writer

18:06, June 30 1998

Doomed Ross Technology Inc, the Austin, Texas chipmaker, has been forced to delay filing its annual report with the Securities and Exchange Commission while it obtains independent valuation of some of its assets. At the beginning of this month, Ross said it would start an orderly shutdown of its operations, while trying to find a buyer for the remaining smaller businesses. The company, 60% owned by Fujitsu, found the struggle to continue being a 32-bit player in a 64-bit world too hard to continue and, even with the shares down at $12.50, the company had nothing on offer to attract a takeover. The report will be filed within the next 15 days.

Comments

Post a comment

Comments may be moderated for spam, obscenities or defamation.