RETIX TO CHANGE NAME IN OVERHAUL.Byline: Dave McNary Daily News Staff Writer
Retix, parent of Woodland Hills-based software producer Vertel, will change its name to Vertel as part of a shift to focus its efforts on the potentially lucrative telecommunications network A telecommunications network is a of telecommunications links and nodes arranged so that messages may be passed from one part of the network to another over multiple links and through various nodes. software market.
Marina del Rey-based Retix, in an announcement late Tuesday, also said it was in talks with possible buyers for most of its Sonoma Systems subsidiary, which sells broadband-access equipment. Additionally, Retix's top two executives resigned and Vertel's top executives assumed management of the company.
Investors applauded the moves and Retix gained 9/16 to 4 11/16 Wednesday on trading that was nearly 2-1/2 times normal volume. It dropped to 4 recently and has been slumping since hitting a 1997 high of 7-3/8 on Oct. 13.
Vertel's strategy has been to make its telecommunications management network The Telecommunications Management Network is a protocol model defined by ITU-T for managing open systems in a communications network. It is part of the ITU-T Recommendation series M.3000 and is based on the OSI management specifications in ITU-T Recommendation series X.700. the standard for technology used for interaction between telecommunications equipment and operation systems. Such software can be used to spot troubles, control services and cut costs.
Vertel also will retain Retix's wireless data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. operations.
``We're a proven and recognized leader of this new and rapidly growing software market,'' said Bruce Brown, now chief executive officer for Retix and Vertel, in a prepared statement. ``Retix's changes benefit its shareholders by Vertel being the first pure play publicly held TMN (Telecommunications Management Network) A set of international standards for network management from the ITU. It is used by large carriers such as Sprint, Verizon and AT&T. company.''
Jim Brill, chief financial officer for the companies, said the changes would have no impact on the 125 employees at Vertel's plant in Woodland Hills and the 100 workers at Sonoma's facilities in Marina del Rey Del Rey may refer to:
Retix was founded in 1985, went public in 1991 at $11 a share and saw its shares touch 17-1/2 in 1992. Its stock price was hurt by disappointment over financial performance and hit a low of 1-7/8 in early 1996 before rebounding.
In the 1997 third quarter, Retix lost $2.7 million on sales of $4.6 million with the red ink red ink Health administration A popular term for financial losses. Cf in the Black. due mostly to start-up costs of Sonoma's new products.
Stephan said Retix will benefit from concentrating on the telecom software market. ``The company's financial resources won't be diluted by the ongoing investments required to participate in two emerging markets,'' he said. ``Now Retix can be clearly viewed as a market leader in the rapidly growing telecom software industry and fully appreciated by the investment community.''