News Alert from Dow Jones Online News
Topic: (NASDAQ:ADSO) Adaptive Solutions Inc,
Headline: Adaptive Solutions To Acquire French Data-Entry Software Firm
==========================================================
BEAVERTON, Ore. -(Dow Jones)- Adaptive Solutions Inc. said Thursday
it has agreed to acquire Mimetics, S.A. of Paris, a company which
develops and markets high-accuracy, high-speed data-entry recognition
software for reading printed documents.
The company (ADSO) - which provides data entry products and solutions
- said it will issue about 305,000 common shares and 200,000 warrants
exercisable at $3 a share. The deal is expected to close within a month.
The purchase, the company said, involves in-process research and
development assets, which will be evaluated and may be written off
during its first quarter. Adaptive Solutions has held a minority
ownership in Mimetics since 1996, when the two companies entered into a
strategic partnership.
Mimetics had about $1.2 million in revenue in 1997 and "we expect
growth and a positive contribution to our ongoing results in 1998."
Copyright (c) 1998 Dow Jones & Company, Inc.
All Rights Reserved. |
