Short and to the point

Only two days after being delisted from NASDAQ, NetObjects issued a two sentence press release:

“REDWOOD CITY, Calif., Sep 1, 2001 (BUSINESS WIRE) — NetObjects, Inc. today announced that it will cease operations effective today. The Company intends to sell its assets as expeditiously as circumstances permit.”

Four years ago IBM purchased 51% of this company and we at NetDynamics thought of it as an important competitor, but almost immediately it fell by the wayside. Per the latest 10-Q filing, IBM owned 48% but there is no statement from them about this.