Web site provider and Internet communications company
Netopia Inc. Friday acquired Serus
LLC, makers of Java-based Web development tools, in a cash and stock deal.
Netopia paid Serus $3 million in cash and gave the firm 409,556 shares of
its common stock. Netopia also may pay up to $1 million more for Serus if
certain, unspecified conditions are met. Netopia expects to take a one-time charge in the first quarter of fiscal 1999 to pay for
the acquisition.
Netopia said a new software development proram Serus is developing should
expand its licensing opportunities to ISPs, Web hosting firms and Internet
communities. Netopia clients will be able to use new Java Web editing
technology that will provide Web developers with Java-based Web page
editing and new, drag and drop tools for customizing and maintaining Web
sites.
The company said the technology will allow even Internet novices to quickly
establish a Web site within minutes using built-in templates.
Netopia also plans to incorporate Serus’ software technology into its
Virtual Office software platform, which enhances developers’ ability to
customize their Web sites, e-commerce stores and interactive communities.
“Today’s announcement underscores Netopia’s continued commitment to deliver
Web-based technologies to independent professionals and small, growing
businesses to establish an effective presence on the Internet. This
acquisition will help us extend our market research while complementing our
core competencies,” said Alan Letkof, Netopia’s president and chief
executive officer.
