Software Publishing Corp, Mountain View, California has sold its line of low-end personal computer software to Spinnaker Software Corp, Cambridge for 1.86m shares, currently worth about $4m, giving it a stake of 16% in Spinnaker. The products in question are the PFS: family, which was once picked up by IBM as its white hope to become a major player in the personal computer applications market. Software Publishing will also get continuing royalties on sales of PFS: products by Spinnaker. Spinnaker gets software code, technology, inventory, installed base and the PFS: name for PFS:First Publisher and First Publisher accessories, PFS:First Choice, PFS:Preface, and PFS:Easy Start, and enables Spinnaker to license PFS:First Graphics; it is working on a line of Windows 3.0 applications that will be marketed under the PFS: brand, the first of which is to be introduced this quarter. Employees that were working on the PFS: line will be offered other positions by Software Publishing.
