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P.M. BRIEFING : Firm Acquires Option on UPI Stock

From Times wire services

Infotechnology Inc. said today that it has an option to purchase 99% of United Press International’s parent company as a result of acquiring all of WNW Group Inc., which operates the news agency.

In a filing with the Securities and Exchange Commission late Wednesday, it was revealed that the value of the transaction, which involved the conversion of 100 outstanding shares of WNW stock into a total of 1.49 million Infotech common shares at $10.80 apiece, was $16.15 million.


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