Newswire: FrameFlow Completes Acquisition of NASDAQ:GOGL

 

OTTAWA, CANADA; March 27th 2015 – FrameFlow Software announced today the completion of its hostile takeover bid for NASDAQ:GOGL. The company, best known for its server and network monitoring software, announced that it had acquired all 300,000 shares of GOGL at an average price of 17 cents per share. The officials from the takeover target, which operates under the registered business name of General Orthopedic Garments Limited, confirmed the acquisition and indicated that they would immediately commence to transfer all assets to FrameFlow.

Based on previous guidance from FrameFlow officials, this was an unexpected turn. Business analysts are reporting that for unknown reasons, perhaps human error, FrameFlow had been bidding on shares for NASDAQ:GOGL instead of NASDAQ:GOOG, the official Google stock symbol. When contacted, the FrameFlow official declined to comment on the subject.

FrameFlow’s chief financial officer issued a statement saying, “At this stage I don’t think it’s in anyone’s best interest to point fingers or lay blame. It’s a mistake that I think is fair to say anyone could have made. The fact of the matter is that we launched our hostile takeover bid for Google with absolutely the best of intentions. Based on that, we’re calling on Larry Page to do the right thing and hand over the shares that we believe are rightly ours.”

Analysts cautiously expressed doubts that Google’s board of directors would approve a move like the one described by FrameFlow officials.

FrameFlow President and CEO Donald Leclair was more upbeat. At a hastily organized press conference he was quoted as saying “It’s true that some mistakes were made, but our shareholders can remain assured that our legal counsel is now pursuing all available options. That said, it’s our goal to put this behind us and here at FrameFlow we believe that the future lies in the realm of garments. And not just any garments, but specifically orthopedic garments.”

In a closed media session FrameFlow officials provided previews of a new line of orthopedic garments which will be available in white, gold, and space gray. Several designs were specifically tailored with the Apple Watch Edition in mind.

Trading of FrameFlow shares under their new symbol, NASDAQ:GOGL, was uneven in after hours markets. Shares in Google (NASDAQ:GOOG) jumped 2.3% on the news.

More from FrameFlow Newswire:
http://www.frameflow.com/server-monitoring-newsletter/