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Short Take: Netscape closes Actra acquisition

Netscape has closed its acquisition of Actra, a joint venture between Netscape and GE Information Services. Actra, created to develop software applications for e-commerce, will be accounted for as a purchase transaction, and part of the transaction will be written off this quarter as in-process research and development, said the company. Netscape will issue 1.9 million shares of Netscape stock to GE, and will issue 600,000 Netscape options to Actra employees.

Netscape has closed its acquisition of Actra, a joint venture between Netscape and GE Information Services. Actra, created to develop software applications for e-commerce, will be accounted for as a purchase transaction, and part of the transaction will be written off this quarter as in-process research and development, said the company. Netscape will issue 1.9 million shares of Netscape stock to GE, and will issue 600,000 Netscape options to Actra employees.