Franklin Electronic Ends Deal With VPTI

Franklin Electronic Publishers Inc. said it terminated the planned acquisition of Sherman Oaks-based Voice Powered Technology International Inc., a move Voice Powered said it had not expected. Burlington, N.J.-based Franklin Electronic made the announcement in a statement but declined to provide further comment. “Given what was stated in the letter of intent, and given what information was provided to them, we are surprised about their decision,” said Mitchell Rubin, VPTI’s chief financial officer. On Feb. 27, Franklin Electronic said it would pay 25 cents in cash or stock for each VPTI share. Rubin declined to elaborate on what caused the merger to go sour, but said that Franklin Electronic’s decision was not related to VPTI’s delisting from the Nasdaq SmallCap Market earlier this week. Franklin Electronic publishes hand-held electronic books.