Gallic breadth.Paris-based Avanquest Software Inc. becomes one of the largest consumer software publishing firms in the U.S. with its buyout Buyout The purchase of a company or a controlling interest of a corporation's shares. Notes: A leveraged buyout is accomplished with borrowed money or by issuing more stock. of Calabasas-based Nova Development. Avanquest will pony up po·ny n. pl. po·nies 1. Any of several types or breeds of horses that are small in size when full grown, such as the Shetland pony. 2. a. Informal A racehorse. b. $34.5 million in cash, paid in three installments over 18 months, and $13.5 million worth of Avanquest shares for Nora's current crop of consumer graphics and content software products for Windows and Macintosh platforms. Avanquest chief executive and president Christina Seelye said Nova founders Roger Bloxberg and Todd Todd , Sir Alexander Robertus 1907-1997. British chemist. He won a 1957 Nobel Prize for his study of nucleic acids and nucleotide structures. Helfstein would share a seat on the Avanquest board and be retained to help guide the sale transition. Avanquest wants Bloxberg and Helfstein to focus on international development of the group's sales as well as overseeing synergies on all the company's levels. "This transaction creates for both parties an enhanced leadership position among consumer software publishing companies--both in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and Europe--and creates immediate new opportunities for each party's existing software content in the other's channels," Bloxberg and Helfstein said in a statement. Nova, which was founded in 1984, employs about 70 employees and there are no plans for layoffs, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Avanquest executives. |
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