CE Software Holdings Inc. Reports Sale of Subsidiary.WEST DES MOINES West Des Moines (də moin`), city (1990 pop. 31,702), Polk co., S central Iowa, a growing suburb W of Des Moines; inc. 1893 as Valley Junction, renamed 1938. Products manufactured there include cement, metal items, and pumps. , Iowa--(BUSINESS WIRE)--Sept. 9, 1996--CE SOFTWARE HOLDINGS INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. ., (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 NM Symbol: CESH) today announced the sale of its share of ownership interest in 4-Sight L.C., and estimates a gain on the sale of approximately $500,000 for the fourth quarter ending September 30, 1996. The company reports that 4 Sight Inc., a subsidiary of 4-Sight plc, a United Kingdom public limited company and developer of ISDN ISDN in full Integrated Services Digital Network Digital telecommunications network that operates over standard copper telephone wires or other media. communications and network fax software for the Macintosh and Windows platforms and print management software for the Macintosh platform, will acquire CE SOFTWARE's approximate 50% interest in U.S.-based 4-Sight L.C. for $250,000 in cash and the assumption of debt, payable to the company, in the amount of $1,401,000. Debt repayment terms provide that the company will be paid $467,000, one-third of the debt, concurrent with the closing on the sale of its ownership interest, effective August 31, 1996, with the remainder due in two equal installments of $467,000 to be paid December 31, 1996 and March 31, 1997. Richard Skeie, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CE SOFTWARE INC., commented, "The divestiture of our ownership interest in 4-Sight L.C. is in keeping with our intentions to streamline operations and to focus our efforts on CE SOFTWARE's core revenue-producing products. The $1.6 million of cash that the Company will receive will further strengthen an already solid financial condition. In other developments, our QuickMail product group is on course for new product shipments in the fall, based around our new Internet initiatives announced at Macworld Expo Boston in August. Also, QuicKeys 3.5 shipped in mid-August." CE SOFTWARE INC., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of CE SOFTWARE HOLDINGS INC., develops and markets electronic mail and Internet software for Macintosh and Windows environments. More than 3.1 million people worldwide use CE SOFTWARE's products. For more information contact, CE Software Inc., 1801 Industrial Circle, West Des Moines, Iowa West Des Moines is a city in Polk, Dallas, and Warren counties in the U.S. state of Iowa. As of the 2000 census, the city population was 46,403; a special census taken in the spring of 2005 counted 51,744 residents. 50265. Phone 800-523-7638 inside the United States. Outside the United States call 515-221-1801. The company also maintains a home page on the World-Wide Web at http://www.cesoft.com. CONTACT: CE SOFTWARE HOLDINGS INC. Company Contact: Curtis W. Lack Chief Financial Officer, CE Software Inc. curt_lack@cesoft.com 515/221-2114 |
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