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October 24, 1995

INTERSOLV PAYS $80m IN CASH AND SHARES FOR TECHGNOSIS

By CBR Staff Writer

Intersolv Inc has acquired TechGnosis International Inc of Brussels for cash and shares worth $80m, and says that for the current quarter to October 31 it expects to incur one time charges of $12m to $15m related to the acquisition. Intersolv swapped 3.4m new shares and $7.5m cash for TechGnosis. Privately-held TechGnosis developed the SequeLink cross-system data access software for client-server environments, and Rockville, Maryland-based Intersolv will combine it with its DataDirect series.

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