Re:Sierra was captured, then killed, by an accounting fraud
by Joeri on Friday October 30, 2020 @02:00PM
(#24945057)
Here’s something I don’t understand: Sierra was a money-printing machine, earning easy profits and on a natural growth path. With a trajectory like that, why go public, why sell the business at all? There was nothing to gain really, whatever growth they would have gotten from going public and from the CUC deal (even if it had been on the up and up) they would have seen naturally. Gaming is not a winner takes all market, they had no need to grow more quickly.
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Re:Sierra was captured, then killed, by an accounting fraud
by drewwwwww on Friday October 30, 2020 @02:01PM
(#24945066)
this subject is covered at length in the article.
Re:Sierra was captured, then killed, by an accounting fraud
by projektfu on Friday October 30, 2020 @05:27PM
(#24947061)
TL;DR Ken Williams had had a bad experience early on where the company was nearly bankrupt from a bad move, and he thought selling to a conglomerate would bulletproof the company, and was something of a duty to his shareholders. If the article is to be believed, they did so without being permitted to do due diligence on their buyer.