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December 16, 1997updated 03 Sep 2016 5:02pm

NETSCAPE COMPLETES BUY OF ELECTRONIC JOINT VENTURE

By CBR Staff Writer

Netscape Communications Corp has completed its acquisition of the remaining 50% stake in Actra Business Systems LLC from General Electric Information Services (CI No 3,285). Actra was established in 1996 (CI No 2,890) to develop enterprise software applications for internet commerce, as a joint venture between GE Information Services and itself. Netscape will issue around 1.874 million shares, valued at around $26.875 each, to buy the remaining stake, paying roughly $50.4m to gain full ownership of the company and its related technology. Netscape anticipates a significant proportion of the purchase price will be accounted for as in-process research and development in this quarter. Actra will form a new application product division within Netscape concentrating on the CommerceXpert line of products.

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