Former Waverunner owner recaptures majority of company

IBM spinoff combines with Enetco

FORT COLLINS — Waverunner Technology Corp., an IBM Corp. division that bought and spun off and sold to Max and Sandi Eidswick in 1996, has new ownership that is much like the old ownership.

The Internet technology company whose pedigree reads more like corporate slight of hand than change of hand has merged with Enetco, another Eidswick company. As Max Eidswick tells it, he bought Waverunner in 1996, turned to venture capital to grow the company and eventually lost control of Waverunner as a result.

“I was completely out of the company by January ’97,” Eidswick said.…