Bought some WEBB; buyout at $.32, stock's at $.25
(PR Wires) PRW: Webb Interactive Services, Inc. Reports Agreement for Sale o
Jabber, Inc.
PRW: Webb Interactive Services, Inc. Reports Agreement for Sale of Jabber, Inc.
DENVER, Sept. 19 /PRNewswire-FirstCall/ -- Webb Interactive Services, Inc.
(Pink Sheets: WEBB) today announced that Cisco Systems, Inc. (Nasdaq: CSCO)
has entered into an agreement for the acquisition of Jabber, Inc., a
minority-owned subsidiary of Webb. The acquisition is subject to various
conditions and is expected to close in the first half of Cisco's fiscal year
2009, which ends in January 2009.
Based on a preliminary estimate of the proceeds available to Webb following
the closing, Webb expects to be able to make a cash distribution to its
shareholders of approximately $0.32 per share.
SOURCE Webb Interactive Services, Inc.
/CONTACT: Lindley Branson, +1-612-632-3024, for Webb Interactive Services,
Inc.
(END) Dow Jones Newswires
September 19, 2008 13:35 ET (17:35 GMT)
*** end of story ***
When it comes to P/Es, 7 is the new 14...
