ASA International Ltd. announces completion of acquisition of assets from Precedent Technologies.FRAMINGHAM Framingham (frā`mĭnghăm'), town (1990 pop. 64,994), Middlesex co., E Mass., on the Sudbury River between Worcester and Boston; settled 1650, inc. 1700. , Mass.--(BUSINESS WIRE)--Dec. 7, 1994--ASA International Ltd. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ASAA ASAA American Sleep Apnea Association ASAA Alberta Schools' Athletic Association (Canada) ASAA Alaska School Activities Association ASAA American Society of Aviation Artists ASAA Asian Studies Association of Australia, Inc. )(the "Company") today announced it has completed an acquisition of substantially all of the assets of Precedent Technologies Inc. ("PTI PTI - Portable Tool Interface "), which consists primarily of software products, customer lists, and support agreements. The purchase agreement calls for royalty payments ranging from a minimum of $297,000 to a maximum of $697,000, over a three-year period, based upon a percentage of the gross revenues received by the company through licensing of PTI's software products. A total of $70,000 of the minimum payment was paid at closing. The company has also made available a $75,000 line of credit to support certain of PTI's obligations to a shareholder. The balance of the minimum royalties is comprised of monthly installments payable over 24 months. PTI's products are expected to be combined with the company's legal systems product line. ASA Asa (ā`sə), in the Bible, king of Judah, son and successor of Abijah. He was a good king, zealous in his extirpation of idols. When Baasha of Israel took Ramah (a few miles N of Jerusalem), Asa bought the help of Benhadad of Damascus and International Ltd., headquartered in Framingham, Mass., develops, markets, implements, and supports vertical market business solutions throughout the USA and Canada. CONTACT: ASA International Ltd. Alfred C. Angelone, 508/626-2727 |
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