|[9:30 AM] Aladdin Out Of The Closet, Goes Public
Aladdin Holdings, the parent company of Aladdin Systems, makers of the must-have line of Stuffit brand utilities, is now a publicly traded company. According to Aladdin Holdings:
Aladdin Systems, Inc., a wholly owned subsidiary of Aladdin Holdings, Inc., is a leading provider of compression and access software for Macintosh and PC computers.
The change in Aladdin's material trading status came about as a result of a restructuring, which included a significant capital infusion for research, development and marketing. The Company made no management changes, and there will be no consolidation of workforce as a result of the restructuring.
"We're very excited that the public will now have an opportunity to participate in our growth," said Jonathan Kahn, CEO of Aladdin Systems, Inc. "We plan to continue developing innovative products, leveraging our position as a market leader, and to provide the maximum return for our shareholders."
Aladdin Systems, Inc. provides computer users with software that helps them Transmit, Access, and Organize their information. Aladdin's flagship product, StuffIt compression software, is a worldwide standard for file compression. With more and more files being transmitted over the Internet, a compression standard is now a critical part of everyday computing. StuffIt increases bandwidth by an average of 20% with no added hardware cost. StuffIt was recently released on the Windows platform, having been available for Macintosh computers for many years.
You can find more information at the Aladdin Systems web site.
The Mac Observer Spin: Congratulations to Aladdin! The Mac built Aladdin into the company that it is today, and its great to see such a company be able to go public! Once again, this is far cry from the market realities if 2 - 4 years ago when a small company heavily vested in the Mac market would have had a difficult time even talking to investors, let alone going public.
This certainly helps dull the pain from Mactell's closure yesterday...