Dutch business software firm Baan Company saw its share price drop nearly 30 percent in European trading Wednesday, adding to renewed fears that the company is teetering on the brink of survival.
Once Europe’s number two business software maker, Baan has reported seven straight quarters of losses. Many industry observers now say that a takeover is the company’s only real hope for staying afloat.
Baan’s CRM software is viewed as its most lucrative asset. The company said earlier this year that it was considering spinning off the business as a separately traded subsidiary.