July 22, 1998 7:30 PM PDT
Short Take: PictureTel to buy Starlight Networks, CFO resigns
IP-based videoconferencing company PictureTel said it intends to buy privately held Starlight Networks, a provider of streaming audio and video technology for the Internet and intranets. Terms of the negotiations were not disclosed, but PictureTel executives said the purchase would include common stock and some cash. Meanwhile, PictureTel CFO Dick Goldman has resigned effective September 11.