FRANKLIN TO BUY PROXIMITY FOR $15.3m IN SHARES

Pennsauken, New Jersey-based Franklin Computer Corp, which started out cloning the Apple II, moved on to IBM Personalikes and now designs and sells electronic reference product including a handheld spelling check computer, has agreed to buy Proximity Technology Inc, Fort Lauderdale, Florida for 1.25m Franklin shares worth $15.3m. Proximity specialises in linguistic products using databases licensed from publishers, and also designs personal computer data retrieval products.

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