Enterasys Sets Aprisma Spin-Off Date


Aprisma Management Technologies finally has a date for its coming out party.

Enterasys Networks said Monday that shares of Aprisma common stock are expected to begin trading independently on the Nasdaq under the symbol APRM on Feb. 13.

The network management vendor has been operating as an independent unit of Enterasys since August when Enterasys was spun out from Cabletron Systems.

The distribution ratio, which will be finally established on the record date, Feb. 5, is expected to be .068 Aprisma shares for each Enterasys share, according to an Enterasys statement.

"During the past year we have been preparing our company for its introduction to the public markets, and the process is on track," said Michael Skubisz, president and CEO of Aprisma, last month during a conference call with financial analysts.

Aprisma's anticipated Dec. 31 spin-off date was pushed back after the Sept. 11 terrorist attacks, he said.