NOVATO, Calif. -- Computer software concerns SoftKey Software Products Inc. and WordStar International Inc. said Thursday they have agreed to merge and form a company with annual sales of $90 million.
'We now have the critical mass to become a leader in consumer software,' said Ron Posner, chief executive officer of WordStar.
'Our combined strength in products, marketing and distribution will result in a more cost-efficient organization that's more competitive on a North American and international basis.'
'We intend to grow through mergers and acquisitions as the industry consolidates,' he said.
The merged company will be headquartered in Novato, Calif., where WordStar is currently based. Kevin O'Leary, president of SoftKey, will serve as chairman of the combined company.
SoftKey's chairman and CEO, Michael Perik, will be CEO and WordStar's president, Yoav Stern, will be president of the combined company.
WordStar specializes in business productivity software products in word processing, writing and reference works and fax/optical character recognition.
Toronto-based SoftKey is best known for its Key, NewVision PowerWare and Titanium Seal brands and publishes Canadian tax preparation software.
