Stanford Case Study: Rasna
It was April 12, 1995. As David Pidwell and Keith Krach left the meeting with Steve Walske of Parametric Technology Corporation (PTC), the two discussed Walske’s offer to buy their company, Rasna Corporation. Since the beginning of the year, Rasna had been pursuing a parallel track of preparing for an initial public offering (IPO) of stock and negotiating to be acquired by PTC. They hoped that the company would be able to make a decision between the two options soon.