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March 28, 1988

INTERGRAPH INVESTS IN TANGENT TO TAKE ITS STAKE UP TO 80%

By CBR Staff Writer

Intergraph Corp, Huntsville, Alabama has agreed to put up an additional $2m dollars of equity financing for Tangent Systems Corp, which develops software for electronic design. Intergraph was already the largest investor in Tangent and has also agreed to buy all the Tangent Systems preference shares held by venture capital funds which participated in Tangent’s second round of financing in June 1986: as a result, Intergraph’s ownership in Tangent will increase to just over 80%, with the remaining shares being held by Tangent’s employees – and Intergraph intends that Tangent operate as a separate company with its own sales force. Terms and value of the new investment were not disclosed. In November 1987, Tangent that Toshiba Corp and Motorola Inc had adopted its Tangate software for sea-of-gates gate array design. The software runs on workstations made by DEC, Apollo Computer and Sun Microsystems as well as those made by Intergraph.

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