Stamford, Connecticut-based CUC International Inc is spending a total of $2,200m in shares to acquire educational software developer Davidson & Associates Inc of Torrance, California and entertainment software publisher Sierra On Line Inc of Bellevue, Washington. CUC, a membership-based consumer services company, values Davidson at $1,140m and Sierra On-Line at $1,060m. Separately, CUC said that it has completed its purchase of Rent Net, which offers US apartment rental data on the Internet, paying $1m in cash and $2m in shares with an added earn-out provision.
