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Short Take: Wave buys N*Able for $41 million

Wave Systems, which markets secure hardware and software to protect online transactions via modems or set-top boxes, has acquired N*Able Technologies. Wave issued 2.5 million shares of stock, valued today at around $41 million. N*Able, which is developing security co-processors for PC keyboards and smart card readers, also announced that Compaq will incorporate N*Able's technology into its advanced smart-card readers.

Wave Systems, which markets secure hardware and software to protect online transactions via modems or set-top boxes, has acquired N*Able Technologies. Wave issued 2.5 million shares of stock, valued today at around $41 million. N*Able, which is developing security co-processors for PC keyboards and smart card readers, also announced that Compaq will incorporate N*Able's technology into its advanced smart-card readers.