Unsuccessful computer operating system vendor Be Inc. said Tuesday it will dissolve its business March 15 and delist from the Nasdaq Stock Market.
The Mountain View, California-based company said in a statement that its stockholders approved the plan Nov. 12.
The company said it will determine whether shareholders will be able to participate in the final distribution of its assets after the close of business on March 15. The company sold its operating system to handheld computer maker Palm Inc. in Santa Clara, Calif., for US$11 million in November.
The company said it will continue to exist for at least three years after the dissolution for a number of reasons, including its intention to continue its lawsuit against Microsoft Corp.
Last month, Be filed suit against Microsoft alleging the software giant destroyed Be's business through a "series of illegal exclusionary and anticompetitive acts designed to maintain its monopoly in the Intel-compatible PC operating system market." Be argued that Microsoft "created exclusive dealing arrangements with PC original equipment makers prohibiting the sale of PCs with multiple preinstalled operating systems."
A U.S. District Court ruled in April 2000 that Microsoft had illegally maintained a monopoly in the market for desktop operating systems. The ruling was later upheld by a U.S. Court of Appeals.
Officials from Be could not be reached for comment at deadline.