ISGI was a Siemens Nixdorf subsidiary, created with the 1990 merger of Linotype and Hell, which itself had been a Siemens subsidiary.
At Nexpo '96, Dennis Nierman, president of Monotype and its parent as well as an ISGI board member, said that when ISGI was acquired, Reading had been working with beta software for an installation that his company realized it could not yet support.
Following completion of the merger, ISGI will have approximately 16.
The completion of the merger is subject to the satisfaction of several conditions, including the following: (i) NASD approval of the change of control of Advantage Investment Strategies; (ii) the completion of an equity financing by ISGI of at least $2.
In addition, following the new appointment of directors, ISGI will elect Mr.
Chapchal, in the meanwhile, had left ISGI, and the company would ultimately be acquired by Itraco, a firm that runs Germany's Scangraphic and alfa System Partner.
At Nexpo '96, Nierman said that "when we took over the company, an agreement had been signed between Reading and ISGI.
Each stockholder holding shares of ISGI
common stock on the Record Date shall be issued a dividend of 100 shares, regardless of their current share ownership position.
Prior to ISGI
, Chapchal was President and CEO of Atex Publishing Systems Corporation, where he turned a loss of $26 million into break-even within 12 months.