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Article: Smart Online sells majority of gains acquired when it bought Computility.
- Article from:
- The Herald-Sun (Durham, NC)
- Article date:
- October 10, 2006
CopyrightCOPYRIGHT 2006 The Herald-Sun. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Jeff Zimmer
Oct. 10--The Durham online software firm Smart Online has sold most of the assets of the firm it acquired last year when it bought Computility, a Web-based software company in Iowa.
Smart Online acquired Computility in October 2005 for $3.4 million in stock and then this September agreed to sell substantially all of the assets from that acquisition to Alliance Technologies, a computer consulting firm in Iowa, according to a Smart Online filing with the Securities and Exchange Commission.
Alliance agreed to pay Smart Online $600,000 in cash and assume $1.7 million in total liabilities, according to the filing. In return, ...