ObjectShare Inc, the one-time maker of Java and Smalltalk tools, has reached an agreement to sell off the assets of its European subsidiary to Paris-based e-business consulting firm Valtech SA. No financial terms of the deal were disclosed. The operations changing hands consist of offices in Munich, Germany and Farnham, UK and should bring in consulting revenues of 1.3m euros ($1.34m) for calendar 1999.
In the past two months, Irvine, California-based ObjectShare sold off its core tools business to concentrate on consulting services and then agreed to be acquired by StarBase Corp for roughly $7.5m. The company says the European spin-off allows it to focus on rebuilding its training and consulting business in North America in conjunction with its integration with StarBase. As part of the deal with Valtech, the two companies will establish a cooperative partnership that will enable ObjectShare to maintain a consulting presence in Europe.
