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Technology Stocks : TSI Software (TSFW) -- Ignore unavailable to you. Want to Upgrade?

To: Red Scouser who wrote (10)	3/19/1999 9:21:00 AM
From: Red Scouser	Respond to of 21

Wilton, Connecticut, March 18 (Bloomberg) -- TSI International Software Corp., which makes software that links unrelated business software, said it will buy U.K.-based Braid Group Ltd. for about $95.2 million in cash and stock. TSI will pay $30 million cash and stock valued at $65.2 million for closely held Braid, which makes financial-transaction software used by banks and securities firms. TSI agreed to pay an additional $20 million if Braid meets certain performance goals, the company said in a statement. TSI Chief Financial Officer Ira Gerard said Braid, which handles 40 percent of all equity trades on the London Stock Exchange, will add about $23 million to TSI's revenue for the remainder of this year, and is expected to add about $35 million next year. TSI had revenue of about $45 million last year. Braid's 150 employees will be retained, and Braid founder and Chairman Richard Little will become a TSI director, the company said. Shares of Wilton, Connecticut-based TSI rose 3 13/16 to 59 5/16. 16:37:38 03/18/1999