PSI Softworks Assets Sold to Massachusetts Firm

PASW Inc. in Newbury Park said it has sold the assets of its PSI Softworks Technology subsidiary to NETsilicon of Waltham, Mass.

The purchase price for the assets, including PSI’s Internet and Web software, was 90,000 shares of NETsilicon common stock. In addition, NETsilicon has agreed to grant a nonexclusive, royalty-free license for the acquired technology to PASW and its affiliates.

NETsilicon provides network-enabled microprocessing solutions to manufacturers. The company said the newly acquired subsidiary will remain in Newbury Park and operate as NETsilicon Softworks Group.