SoftQuad
International Inc. said Tuesday it was selling SoftQuad Inc., its Web
publishing tools unit, to a group of current employees and a private
investor for just over $900,000.
In addition to the publishing tools group, known for such products as the
HoTMetaL Pro Web editor, the group will also take control of SoftQuad U.K.,
the company’s European distribution subsidiary.
The new owners have agreed to assume all of the unit’s debt and to issue
SoftQuad International a 19 percent stake.
Richard Rabins, SoftQuad International’s chief executive officer, said the
sale will allow the company to refocus its software business.
“This represents the final part in the implemention of our previously
announced strategy of divesting SoftQuad Inc. so that we can focus on our
children’s video game business,” he said.