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August 14, 1996


By CBR Staff Writer

Cambridge, Massachusetts-based SoftKey International Inc, the company dedicated to offering business, educational and edutainment software at rock-bottom prices, has acquired Edusoft SA, Paris-based educational software publisher and developer. The purchase price was settled primarily by issuing 752,275 SoftKey common shares, putting an indicative value on the deal of $14.3m on the deal. One of the selling stockholders will assume the role of SoftKey’s vice-president for European educational products and be eligible for an additional contingency payment tied to the future results of the combined French operations between now and the millennium. Edusoft reported sales of about $9m in 1995, and publishes and develops educational and reference software for use at home and in schools in France and in Francophone countries. SoftKey expects the acquisition to enhance 1996 and 1997 earnings per share even after merger and amortization charges.

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