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Boca Research Acquires Hayes

Officials from Boca Research and Hayes Microcomputer Products have announced that Boca will acquire the once-mighty modem maker responsible for the Hayes-compatible modem standard.

The deal will allow Hayes to complete its reorganization plan and pay its creditors. When the acquisition is complete, Hayes shareholders will receive 1.6 million shares of Boca Research common stock plus contingent payments based on future earnings.

Final approval of the deal is expected within 90 days, industry analysts say.