O.C. BUSINESS PLUS : ORANGE COUNTY BRIEFLY : ObjectShare Sells System to Cincom

By Jonathan Gaw

Sept. 2, 1999 12 AM PT

Irvine-based ObjectShare Inc. said it sold its marquee software development system and transferred its related engineering, sales and support teams to Cincinnati-based Cincom Systems Inc.

ObjectShare said the deal for VirtualWorks was worth $3 million, a figure that includes assumed debts, guaranteed royalty payments and other “additional considerations,” as well as cash.

ObjectShare stock fell 3 cents, or 5%, Tuesday to 59 cents in over-the-counter trading. Cincom is privately held.