O.C. BUSINESS PLUS : ORANGE COUNTY BRIEFLY : ObjectShare Sells System to Cincom
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Irvine-based ObjectShare Inc. said it sold its marquee software development system and transferred its related engineering, sales and support teams to Cincinnati-based Cincom Systems Inc.
ObjectShare said the deal for VirtualWorks was worth $3 million, a figure that includes assumed debts, guaranteed royalty payments and other “additional considerations,” as well as cash.
ObjectShare stock fell 3 cents, or 5%, Tuesday to 59 cents in over-the-counter trading. Cincom is privately held.
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