Short Take: Global Village selling off modems; layoffs to follow

Global Village will sell its modem business to Boca Research for $10 million and 425,000 shares in common stock. After the sale is completed in June, Global Village will launch a communications server business under a new name, the company said. The new business will include about 50 Global Village employees, while about 60 will go to Boca and the rest will be laid off. The company has some 150 employees, down from 218 reported in a June 1997 filing.