Shares of Intelidata Technologies Corp. sank to a new low Friday, $1.0625 per share.

The company, whose stock once traded at $10 a share, has suffered partly because of its ill-fated 1996 acquisition of Colonial Data Technologies Inc., a developer of telephone systems. Intelidata is now divesting the unit, which it bought in search of synergies, to focus on banking only.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.