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February 10, 1999

IBM SELLS ARTIC DEVELOPMENT UNIT TO RADISYS FOR $23M

By CBR Staff Writer

IBM Corp has sold its Artic development operations to embedded systems vendor RadiSys Corp for $22.8m in cash. The Artic unit, based in Boca Raton, Florida, develops communications coprocessor adapter hardware and software for wide area network and other telephony applications. The deal is expected to close in March and includes the transfer of product and material inventory, backlog, and certain fixed assets. RadiSys will pay an additional $5m to license a significant list of IBM patents. Forty IBM employees will be offered positions at RadiSys and 20 additional contract employees involved in Artic development will be asked to continue that work with RadiSys. During 1998, sales of Artic products produced approximately $40m in revenue and RadiSys said it expects this acquisition to be accretive. The acquired unit will become part of the RadiSys telecommunications division and, following closure and a transition period, the new owner said it will establish a permanent facility in the Boca Raton area.

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