Innovus Plans to Acquire Softkat
<i> Dow Jones</i>
Newport Beach-based Innovus Corp. said Monday it agreed to acquire Softkat Inc. and its Sonoma Publishing unit for an undisclosed amount of stock.
Petaluma-based Softkat is a software distributor with more than $8 million in yearly sales. The Sonoma unit develops software titles.
Innovus said Softkat’s administration and support functions will be consolidated with those of Innovus, which develops and sells Internet technology products.
The acquisition, which requires approval of Softkat shareholders and is subject to other conditions, is expected to be completed within 60 days.
