#C= News
3 messages in this thread
In the June 23 Issue of Computer Weekly, a respected UK IT Newspaper there
is the following article;
Samsung makes a play for failing Commodore
Korean electronics manufacturer Samsung has emerged as the front-runner in
the race to buy failed games computer maker Commodore.
At a meeting in Seoul senior management at Samsung confirmed to Computer
Weekly that acquisition discussions had gone ahead following Commodore's
entry into voluntary liquidation in May this year.
But Samsung management stated that the cash price – in the region of $100m
– wanted by Commodore was still far too high.
"Discussions have gone ahead but at the moment it is just too soon to
release any details," said Ali Demin, general manager and director of
Samsung Electronics UK.
Commodore announced in May that it had chosen to enter voluntary
liquidation so as not to hinder talks with a major Far Eastern supplier.
If Samsung was to buy Commodore it would give the company a foothold into
the highly competitive games console arena. Samsung already manufacturers
clones of Sega games consoles for the Korean domestic market, but has no
presence outside of this market.
Commodore offers a way into the low-cost European computer market, and its
CD32 compact disk-based home games/education computer is appealing to
Samsung. If the sale goes ahead Samsung is likely to leave Commodore as a
separate company and strengthen it by providing low-cost, volume
manufacturing from the Far East.
####
Apart from getting the date of going into liquidation wrong (March, not
May) it all seems plausible.
Kevin
Flying AutoPilot from Surry in the UK
Kevin,
I didn't mean my other note here as a comment on your posting. It is
encouraging at least if not as definitive as most of us would like. The mention
of the name Ali in the article triggered my other not.
Bill
Hmm .. June 23, huh?
As a weekly, I suspect that the material was prepared close to deadline. But
gosh, that's almost a month ago.
Still, there are some useful insights in your posting. Thanks for the data.
–Jim