Bakbone still obliged to pay full value of ColdSpark acquisition
Despite the $810,000 payment referenced in its earnings announcement (for exercising a one time option to delay the 2010 cash payment for a year), Bakbone is still obliged to pay out the remaining balance of the full value of the acquisition in pre-scheduled payments over the next couple of years.
The ColdSpark technology could certainly have been used to create an email data protection product that could be sold through Bakbone's field force. They never did. Organizational fail. Costly one for shareholders.
Biting the hand that feeds IT
