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gnulaw (54.24)

Could an Extraordinary Gain be pending re: Geeknet's (GKNT) Nine (9%) Percent Ownership of CollabNet?

Recs

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October 16, 2010 – Comments (1) | RELATED TICKERS: GKNT , HP , IBM

Geeknet's (GKNT) nine (9%) percent ownership of CollabNet (1, 2, 3, 4, 5, 6). Could an extraordinary gain be pending (in the event of a HP, IBM...acquisition of CollabNet)?

References:

1. (October 11, 2010) CollabNet Named an “Innovative Application Development and Deployment Company Under $100M to Watch” by Leading Analyst Firm.

2. (August 5, 2010) SEC Form 10-Q for the period ended June 30, 2010. "...At June 30, 2010, the Company owned approximately 9% of CollabNet consisting of CollabNet’s Series C-1 preferred stock.  As the Company holds less than 20% of the voting stock of CollabNet and does not otherwise exercise significant influence over them, the investment is accounted for under the cost method.  CollabNet is a developer of software used in collaborative software development...".

3.  (June 08, 2009) SourceForge Files fy'09 10-Q...Ohloh Acquired for $2.6M, 3.7M Shares Repurchased...$4.6M Impairment loss re: Collabnet. "...For the three months ended March 31, 2009, the Company recorded an impairment loss of $4.6 million related to its investment in CollabNet, which is included in interest and other income (expense), net...".

4.  (April 30, 2009) Is SourceForge.Net [and or CollabNet] in IBM's [and or HP's] Sites With Latest DeveloperWorks News?

5. (April 24, 2007) CollabNet® and VA Software [GKNT] Sign Asset Purchase Agreement for Acquisition of SourceForge® Enterprise Edition Business by CollabNet.

6. (April 10, 2007) CollabNet Partners With Ohloh to Bring Project Dashboards to Public and Open Source Development Communities Powered by CollabNet.

The Scott Collison-Geeknet-Ohloh link and part of Langone's Endgame?

1 Comments – Post Your Own

#1) On April 09, 2012 at 12:23 PM, gnulaw (54.24) wrote:

(April 09, 2012) BREAKING NEWS (NASDAQ:GKNT) Sells Interest in CollabNet for $6 Million to Industry Venture Funds VI L.P.

qed

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