Inso Corp. said its board had authorized the management of the electronic publishing company to pursue the sale of its product data management (PDM) division. The company said in a statement that the board also had approved a restructuring plan designed to reduce the PDM Division’s operating costs, while retaining its technical assets and customer service and support infrastructure pending the sale of the division. The company said it had begun discussions with several potential acquirers regarding the possible purchase of the PDM Division and had identified interested parties. The restructuring plan is expected to result in a charge of $5.4 million, of which about $2 million is non-cash, in the third fiscal quarter ending Oct.31. The company also expects to take a charge in the third fiscal quarter for the write-down of intangible assets and capitalized software costs attributable to the PDM division ranging from $15 million to $20 million. www.inso.com
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