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Short Take: Spyglass acquires AllPen Software

Looking to bolster its Internet expertise, technology offerings, and customer base, Spyglass, a provider of software and services to make non-PC devices work with the Web, announced the acquisition of privately-held AllPen Software, a systems integration and software development firm focused on Internet technology for non-PC devices. As part of the deal, Spyglass will issue 640,000 shares of common stock and convert AllPen outstanding stock options into 360,000 Spyglass common stock options. The transaction, which already has closed, will be accounted for as a pooling of interests.

Looking to bolster its Internet expertise, technology offerings, and customer base, Spyglass, a provider of software and services to make non-PC devices work with the Web, announced the acquisition of privately-held AllPen Software, a systems integration and software development firm focused on Internet technology for non-PC devices. As part of the deal, Spyglass will issue 640,000 shares of common stock and convert AllPen outstanding stock options into 360,000 Spyglass common stock options. The transaction, which already has closed, will be accounted for as a pooling of interests.