OREM — A merger between idiglobal.com Inc. and Salt Lake-based Worldwide Financial Holdings Inc. has been called off by idiglobal.com.
The companies had reached an agreement on Oct. 31 to merge.
IDI did not disclose the reason for the action, other than to say its board of directors had determined it was "in the best interests of the company and its stockholders."
The merger would have involved both cash and stock, with the IDI shareholders receiving about 3.5 million restricted shares of Worldwide common stock.
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IDI, founded in 1996, designs, develops and markets Web-based software applications and development tools.