NetObjects closes, to sell assets

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NetObjects, Web site building applications developer, has closed operations and plans on selling its assets as quickly as possible, according to an online announcement that offers no other details.

NetObjects has seen dismal financial results lately. Unfortunately, its demise means that the planned Mac OS X of the NetObjects Matrix platform is dead unless some other company buys this among the assets and revives the project. NetObjects Matrix incorporates a Web-based graphical site builder, and supports modular output technology that simplifies the user's ability to create and distribute Web sites that can be repurposed for Web browsers and wireless access devices.

At the end of the third quarter of its 2001 fiscal year on June 30, the current liabilities of NetObjects totaling US $7.8 million, exceeded its current assets totaling $6.6 million. At the time company officials said they didn't have sufficient cash to continue operation through the end of its fiscal year on Sept. 30.

Ironically, as MacCentral reported June 12, NetObjects executive Vice President Mark Patton noted that his company has seen an increase in demand for Mac-compatible technology.

"We have great synergy with Apple, as the Mac appeals to so many small businesses, and NetObjects solutions are developed with the small business end-user in mind," said Patton.

This story, "NetObjects closes, to sell assets" was originally published by PCWorld.

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