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October 7, 1998

SYSTEMSOFT LOOKING FOR A BUYER

By CBR Staff Writer

SystemSoft Corp, the financially troubled PC card and BIOS software company, looks to be shopping itself around to potential buyers. The Natick, Massachusetts-based company said it had enlisted investment bankers Adams, Harkness and Hill to identify and evaluate opportunities to maximize shareholder value. The bank has been authorized to initiate discussions with potential business partners regarding strategic alliances, collaborations, capital investments in the company, and any other alternatives available. In a statement, chief executive Frank Sola said SystemSoft believes that its portfolio of technologies can provide a competitive advantage to any company with an established corporate customer base which is looking to expand its existing support and service offerings. The company, which has lost money for the past three quarters, announced in August that it would be cutting staff by 20% as its shifted its main focus to its SystemWizard diagnostic and repair software product line. That restructuring came after separate action in May that saw the company cut 50 jobs.

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