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News > Technology
Applications mavens unite
March 24, 1998: 8:58 p.m. ET

Network Associates buys Magic Solutions to boost help-desk line
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NEW YORK (CNNfn) - Network Associates, Inc. on Tuesday acquired Magic Solutions, Inc. for approximately $110 million.
     Both companies make internal help-desk applications for Microsoft Windows. Help-desk software performs such functions as phone-call management for large enterprises.
     Network Associates will pay $110 million in cash to Magic Solutions' stock and options holders. Both boards have approved the merger, and the companies plan to complete the transaction early in the second quarter.
     Network Associates said it expects to incur a charge of approximately $90 million.
     Network Associates, which also makes antivirus software and the Pretty Good Privacy encryption software, said it is acquiring Magic Solutions to boost its presence in the internal help-desk market and expand its product line.
     Network Associates (NETA) shares finished up 9/16 to 64-5/8 in Tuesday's close. Back to top

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