Select Software has been acquired by Computer Horizons' Princeton Softech subsidiary after going into administration at the end of last week.
The modelling tools supplier appointed Deloitte & Touche as its administrators to sell its assets after takeover talks with Base Ten Systems failed (see VNU Newswire, 29 May, 1999). The move followed a refinancing deal at the end of last year to keep itself afloat and rumoured acquisition attempts by both Microsoft and Inprise, formerly known as Borland (see VNU Newswire, 4 September, 1998).
Bernard Fisher, Select's chief executive, said: "We are very pleased with this agreement for several reasons. First, our customers can have confidence in the long term viability of the products they have purchased from Select. Second, Princeton's software distribution channel will expand the presence of these products in the marketplace."
He continued: "Third, Princeton brings financial backing and stability to the current software development and support efforts. An added dimension is Computer Horizons' ability to offer ebusiness consulting services on a scale that far surpasses what Select has been able to accomplish by itself."
Princeton has acquired most of Select's assets, including all of those related to software and the related intellectual property, and has committed to continue developing them. It will maintain the firm's office in Cheltenham, UK as the centre of its research and development efforts.
Princeton intends to integrate Select's offerings with its eData Web management tools, application development environment, data movement and migration, and application testing offerings. Computer Horizons' is an IT services company.
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