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November 17, 1997updated 03 Sep 2016 4:57pm

SPYGLASS BUYS RIVAL ALLPEN

By CBR Staff Writer

Embedded browser specialist Spyglass Inc is to acquire its privately held rivals Allpen Software Inc in a deal valued at $7.9m. Spyglass says the deal will be accounted for as a pooling of interests. The company will issue 640,000 shares of common stock and convert all outstanding AllPen stock options into 360,000 Spyglass common stock options. The deal is intended to expand Spyglass’ customer base and help accelerate its growth in the area of professional services. Allpen Customers include names like Sun Microsystems Inc, Apple Corp, Hewlett Packard Co, Sony Corp and 3Com’s Palm Pilot division. Spyglass claims the deal will also give it added expertise in internet device technology, as used in personal digital assistants. Other technology gains will be in the areas of embedded browser and Java servers. The companies have previously worked together to develop an electronic program guide for Thomson SA’s Consumer Electronics division. No job losses are expected.

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