Short: Sterling spins off e-commerce unit

Sterling Software has decided to spin off its electronic commerce subsidiary into a separate company. The company will distribute special dividends to holders of the 61.2 million shares that are not publicly owned and comprise 81.6 percent of the Sterling Commerce subsidiary. Sterling Commerce provides electronic commerce software and services.

Sept. 24, 1996 7:30 a.m. PT

has decided to spin off its electronic commerce subsidiary into a separate company. The company will distribute special dividends to holders of the 61.2 million shares that are not publicly owned and comprise 81.6 percent of the Sterling Commerce subsidiary. Sterling Commerce provides electronic commerce software and services.