February 16, 2011
By Staff Reporter
Riverdeep, the educational software publisher, clawed back some gains this week after losing 9 percent of its share value on the Dublin market last Friday.
Riverdeep confirmed that major strategic shareholder, IBM, has reduced its stake in the company by one third, bringing it to about 4 percent. The announcement comes after unusually heavy trade in the stock on Friday, when it shed 9 percent of its value in Dublin.
IBM, which had also been bound by a lock-up agreement, which recently expired, now holds 10.2 million shares, having released 5.2 million shares.
Riverdeep has also confirmed that a second major shareholder, Gores Technology Group, has sold its entire shareholding in the company. Gores placed 11.7 million shares, a 5 percent holding, on the market on Friday at