Fresh from posting an 85 percent boost in revenues from the fourth quarter ending December 31, 1995, Netscape Communications officials announced they will acquire InSoft, a small multimedia software maker based in Mechanicsburg, Pennsylvania. The deal calls for Netscape to give InSoft 1.96 million shares of stock.
InSoft's stable of products includes Communique; InSoft Network Television (INTV), for distributing digital video; and CoolTalk and CoolView for Net audio, video, and data communications.
In addition to acquiring InSoft, Netscape launched its LiveMedia package. LiveMedia is a software framework for adding audio and video support to Netscape's browser technology. Eleven companies, including Progressive Networks, Adobe Systems, Silicon Graphics, VocalTec, and DEC, said they would support Netscape LiveMedia.
Based on open standards, the specification for LiveMedia will be available on the Internet, and Netscape will license components of the framework.
According to company officials, the Netscape LiveMedia framework will give Web users easier access to multimedia Net applications.
On the financial side, the Mountain View, California, company posted net income for the fourth quarter of $2.4 million, or 6 cents per share. Revenues for the year totaled $80.7 million. However, the company reported a net loss for the year of $3.4 million, or 9 cents per share.