Quickies: Cutting Edge, Leather Cases, Money, Philadelphia

Posted By: Ed Wednesday, August 21, 2002 9:23:05 AM

Mobility Electronics has purchased Cutting Edge Software, developer of Quickoffice, for $3 million in cash and stock.

Vaja Cases now offers a customizable leather flipcase for the T665C. The purchaser can choose from a wide variety of colors and other options and even have it embossed with a logo. Prices start at $70.

Vaja Cases also offers a leather flipcase that comes with a belt clip for the Handspring Treo line. It sells for $50.

A visual tour of the Money Magazine Financial Assistant is now available at LandWare. The Financial Assistant has been designed to help usersmake informed financial decisions. The app itself is not yet available.

The Philadelphia Area PDA Users Group (PhilaPUG) is meeting this Thursday, August 22.

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CESinc worth $3 million!!

I.M. Anonymous @ 8/21/2002 9:52:55 AM #

Would never guess that palm software firm could be worth so much greens :)

RE: CESinc worth $3 million!!

Ed @ 8/21/2002 10:09:58 AM #

The press release says Cutting Edge Software has been consistently profitable since 1995, and last quarter generated approximately $400,000 in revenue.

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News Editor

RE: MOBE press release

I.M. Anonymous @ 8/21/2002 10:12:07 AM #

http://biz.yahoo.com/prnews/020821/law020_1.html

RE: CESinc worth $3 million!!

kozmo @ 8/21/2002 10:16:13 AM #

From the press release:
"Cutting Edge Software's products include a software suite that provides word processing, spreadsheet, presentation and chart capability for PDAs that operate on the Palm OS operating system."

Which CESinc's product provides _presentation_ capability? I am only aware of QuickWord (word processing) and QuickSheet (spreadsheet) + QuickChart (charts for QuickSheet). Is there a new addition in planing?

WAY to Go...

I.M. Anonymous @ 8/21/2002 10:26:12 AM #

Congrats, CES!

RE: CESinc worth $3 million!!

big_raji @ 8/21/2002 10:41:05 AM #

> Which CESinc's product provides _presentation_
> capability? I am only aware of QuickWord (word
> processing) and QuickSheet (spreadsheet) +
> QuickChart (charts for QuickSheet). Is there a new
> addition in planing?

http://www.igo.com/mapfiles/pitch.asp

Looks that way. This device actually looks pretty cool. It says it includes presentation software with it. It also states that it uses a "Pentium class processor". Strange.

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Wooo!

RE: CESinc worth $3 million!!

I.M. Anonymous @ 8/21/2002 10:44:30 AM #

I think Mobility Electronics made a mistake in their press release. Quickoffice doesn't have a presentation capability. Quickoffice working with Pitch (which isn't available yet and will cost at least $150), does.

RE: CESinc worth $3 million!!

I.M. Anonymous @ 8/21/2002 11:12:17 AM #

are you kinding me? $450K revenue quarterly? Quickoffice must have been selling like hot cakes to archive that kind of sales. Mobility got sucker into this one. Quickoffice is good but not that good compared to the competitors.

RE: CESinc worth $3 million!!

james_sorenson @ 8/21/2002 12:01:38 PM #

Compared to which competitors? Docs-To-Go? Doubt it. I'll admit that they have done great things with the word-processor, and the new Arm chips may cover the pathetic speed problems, but the spreadsheet program still seems to be a better "viewer" than editor. Too many features require that I make the spreadsheet on my PC first.

QuickSheet is a [true] portable spreadsheet program. I also like how Quickword can double as an html editor.

Anyhow, I'm glad to see my favorite suite is financially in the black!

Jim

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James Sorenson

RE: CESinc worth $3 million!!

I.M. Anonymous @ 8/21/2002 2:56:12 PM #

If they have $400,000 rev. and profitable,
$3m seems to be on the cheap side.

If they have enough cash, I don't see why they
would sell it at this price.

ted

RE: CESinc worth $3 million!!

I.M. Anonymous @ 8/21/2002 8:25:03 PM #

How is Quicksheet that much better than the Docs to Go spreadsheet?

Both are pretty good IMO for syncing desktop spreadsheets to view and play around with on a PDA. Neither supports the entire list of Excel functions, but both have around 100 of the most common.

Unfortunately I have a spreadsheet that uses the CEILING function, which isn't supported on any Palm spreadsheet program that I know of.

RE: CESinc worth $3 million!!

I.M. Anonymous @ 8/22/2002 2:00:05 AM #

$3M is way too cheap. A revenue of $400k per quarter is $1.6M per annum. A profitable non-growth business usually goes for at least 2x revenue, which would be $3.2M; but software business usually go much higher. Microsoft market cap is currently 10x their revenue, Red Hat market cap is above 11x revenue, and they lost almost $100M! Maybe they meant CESinc did $400k per year. But that's only 10k or 20k copies of QuickSheet, way under 1% of PalmOS units sold; I think a lot more people buy QuickSheet than that. Or maybe CESInc had major debts and not enough cash to last out the downturn, so they sold out to a white knight. But $3M sounds like peanuts for one of the major PalmOS application software vendors.

RE: CESinc worth $3 million!!

I.M. Anonymous @ 8/22/2002 2:24:44 AM #

>$450K revenue quarterly? Quickoffice must have been selling like hot cakes to archive that kind of sales.

Do the math. PalmOS handhelds are selling at around 1 million units per quarter. 1% of that would be 10k units. QuickSheet sells for about $30, so if 1% of handheld buyers also bought QuickSheet, that would be $300k/quarter; $450k would mean a 1.5% market penetration. The top 20 most-installed apps mentioned in a market research slide at the PalmSource conference had closer to a %5 market penetration, so I wouldn't call %1.5 "hotcakes", merely successful. But I certainly would love to have developed an application that successful in its market.