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In 1989 Hegener & Glaser acquired [[Sidney Samole|Sidney Samole's]] [[Fidelity Electronics]] for estimated 4.5 million Dollar, which soon emerged as flop in the already decreasing market of dedicated chess computers <ref>[http://www.computerwoche.de/heftarchiv/1992/33/1135573/ Hegener + Glaser: Dramatischer Kursverfall], August 14, 1992, [[Computerworld#Woche|Computerwoche]] 33/1992 (German)</ref> . In 1992 Hegener & Glaser's debts were 28 million [https://en.wikipedia.org/wiki/Deutsche_Mark DM], and in 1994 Hegener & Glaser's was acquired by [[Eric Winkler|Eric Winkler's]] [[Saitek|Saitek Ltd.]] for about 7 million DM <ref>[http://www.ismenio.com/mephisto.html Hegener & Glaser (Mephisto)] from [http://www.ismenio.com/chess_computers.html ChessComputers.org]</ref> , which continued the Mephisto trademark <ref>[http://www.saitek-shop.de/html/saitek_schachcomputer_mephisto.htm Saitek Schachcomputer Mephisto]</ref> <ref> <ref>[httphttps://www.cold-ipocoldipo.com/Undervalued-Shares-MAR-D-200712.pdf Der große Mantelaktien-Report] (pdf) Sonderreport, December 2007 (German), pp 103. [httphttps://wwwde.googlewikipedia.comorg/wiki/finance?q=ETR:SEA Stella_AG Stella Entertainment AG i. L] (ehem. Hegener + Glaser AG), from [httphttps://www.undervalued-shares.com/ Undervalued-Shares.com]</ref></ref> .

In 2000 the entire business operations of Hegener & Glaser was sold to its major shareholder for 4 million DM. In the end of 2000 the [http://de.wikipedia.org/wiki/DEAG_Deutsche_Entertainment German DEAG Entertainment AG] became new major shareholder to held 79.3% of the shares. At the [https://en.wikipedia.org/wiki/Extraordinary_General_Meeting Extraordinary General Meeting] in December 2000 it was decided to change the company's name from Hegener + Glaser AG to [httphttps://wwwde.googlewikipedia.comorg/wiki/finance?q=ETR:SEA Stella_AG Stella Entertainment AG] realizing 100% of the shares of the ''Broadway Musical Management GmbH'' (BMM) <ref>[http://www.flix.de/eintrag,447042,Broadway-Musical-Management-GmbH.html Broadway Musical Management GmbH - 22769 Hamburg]</ref>, while Winkler concurrently resigned as member of the supervisory board. Stella became insolvent in 2002, partly acquired by [https://en.wikipedia.org/wiki/Stage_Entertainment Stage Entertainment] - the German ''Mantelaktien-Report'' by [http://www.undervalued-shares.com/ ''Undervalued-Shares.com] '' broached the issue <ref><ref>[httphttps://www.cold-ipocoldipo.com/Undervalued-Shares-MAR-D-200712.pdf Der große Mantelaktien-Report] (pdf) Sonderreport, December 2007 (German), from [http://www.undervalued-shares.com/ Undervalued-Shares.com], pp 103. [httphttps://wwwde.googlewikipedia.comorg/wiki/finance?q=ETR:SEA Stella_AG Stella Entertainment AG i. L] (ehem. Hegener + Glaser AG), from [https://www.undervalued-shares.com/ Undervalued-Shares.com]</ref></ref>