Phoenix Technologies (PTEC) Completes Acquisition of TouchStone for $1.48/Share
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Phoenix Technologies Ltd. (Nasdaq: PTEC), the global leader in core systems firmware, today announced it has completed its acquisition of TouchStone Software Corporation (OTCBB: TSSW), a global leader in online PC diagnostics and software update technology, for $1.48 in cash for each outstanding share of TouchStone common stock. The net value of the transaction is approximately $17 million.
This transaction will enable Phoenix to develop a strong online presence and infrastructure for web-based automated service delivery. Phoenix will offer services based on TouchStone technology to PC OEMs, ODMs, and their customers, as well as incorporate the technology into its own products. Phoenix will offer these services under the brand eSupport.com which it acquired with the TouchStone acquisition.
Phoenix Technologies, Ltd. designs, develops, and supports core system software (CSS) for personal computers (PCs) and other computing devices.
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