In other technology news SGI raises $50m from share sale, Torex seeks listing on LSE and Microsoft launches Indian venture.
Silicon Graphics Inc has raised $50m from a cut-price sale of shares to institutions as it seeks to strengthen a balance sheet weakened by a history of losses. The Mountain View, California-based workstation and server company sold the shares at a 19% discount on the recent public trading price for the stock.
In addition, it has cut its outgoings by agreeing a deal with the same group of institutions to convert up to $40m of its 6.5% senior convertible notes into 33.6 million shares of common stock.
Last week SGI revealed it was in talks to sell its Alias graphics technology and services business to a private equity group. At the end of its second quarter on December 26, SGO had cash and short-term investments of $144.3m, compared with $219.5m a year earlier.
In other news, Torex Retail, a business that was spun out of Isoft Group Plc last week, announced plans to seek a listing on London stock exchange alternative investment market next month in a placing that will value the company at approximately 60m pounds ($95.4m).
Torex, which offers point-of-sale software, systems and services to retailers in the UK, Ireland, Belgium and Germany, reported pre-tax income of 9.9m pounds ($15.7m) on revenue of 67.6m pounds ($107.5m).
Isoft sold Torex so it could focus its attention solely on the healthcare sector.
And finally, Microsoft launched a new Hindi office suite in an effort to garner more Indian central and state government customers. Microsoft Corp has since rolled out localized versions of its hugely popular Office personal productivity application suite.
A Hindi version of Office has been developed by Microsoft Corp India, the software giant’s local arm. The software, which is being offered in Professional and Standard versions, comes with a Hindi language interface that supports nine Indian dialects.
Microsoft will initially target the software at government and other public sector institutions that are now ramping up their IT initiatives.
This article is based on material originally published by ComputerWire