Although many suitors approached Novell, Deseret Industries was chosen because it fulfilled all of the requirements for the ailing software. Deseret Industries was able to team up with Goodwill International to obtain the financial backing needed to complete the transaction.
A senior Novell official was quoted as saying, "Deseret Industries has a unique talent for taking old and discarded products, refurbishing them and placing them back on the market at a profit. We hope the same will happen for WordPerfect." The purchase of WordPerfect from Novell will be their first acquisition into the computer software industry. An unnamed source at Deseret Industries indicated that they are considering plans to enter the computer gaming industry as well.
Stunned industry analysts are unsure the impact this will have on WordPerfect competitors. When contacted with the news of the sale, an unnamed Microsoft source stated, "Microsoft is not concerned with the sale of WordPerfect or who purchased it. Novell did such a good job of destroying it, we don"t need to worry about it posing any threat to our Office suite."
Steven Barney of PC Computing stated, "This could be a real morale booster for the vintage WordPerfect employees and their software. It could be the catalyst that propels them back into being a real competitor with Microsoft for word processing market share. After all, Deseret Industries is used to dealing with overworked and unwanted employees."
Deseret Industries has appointed Horris Mitchell as the Executive Vice President for WordPerfect. When asked for comment, he stated, "This is an exciting time for all of us here at Deseret Industries. We look forward to having them (WordPerfect employees) contribute in all areas of the company including our annual "Toys For Tots" drive. What a thrill it will be to give a deserving child a copy of Wallobee Jack! Of course, all the new (WordPerfect) employees will be expected to spend time "on the floor" helping customers, so it may take some time for the integration and mindset to be completed. We will work hard to make sure ALL WordPerfect employees are happy with the transition and even offer them their choice of a Christmas bonus - a framed picture of Mount Timpanogos or a reconditioned hibachi."In a joint statement, Novell and Deseret Industries announced that the sales transaction should be finalized by January 15, 1996.
On a related topic, on the NASDAQ stock market, Novell stock climbed to $20.15 per share with the announcement.
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