I'm still plenty ticked about the way this deal was handled. Informix investors are waiting to hear management's official justification for the terms of the deal, and they deserve to hear it. But take my first-blush analysis below with a grain of salt. A quick, informal survey of press and investor reaction to yesterday's announcement show almost unanimous agreement that IBM got a great deal. I have yet to see any coverage that says that this is a good deal for Informix stockholders.
Informix stockholders are generally a fairly patient lot.
The long-timers who have been invested in Informix for years are accustomed to having management shoot the company in the foot at least once a year. These accounting problems led to the ousting of CEO Jean-Yves Dexmier and the installation of Peter Gyenes in his place. This time it appears that Gyenes has missed Informix's foot and placed his shot squarely between the eyes. As a database company Informix is dead. This is a fire sale, but nobody can find the fire.