Seagull swoops for Renex

E-business software specialist Seagull, has agreed terms for the take-over of iSeries web emulation and host access company,...

E-business software specialist Seagull, has agreed terms for the take-over of iSeries web emulation and host access company, Renex.

Under the deal, Netherlands based Seagull will issue approximately 200,000 shares in a stock-for-stock transaction, believed to be worth around 1m euros. Seagull will assume all assets and liabilities of the privately owned, Virginia based company, including approximately $500,000 in bank debt.

Kim Addington, Seagull senior vice president of marketing, comments: 'We are offering world-class emulation software that can address the typical 'first-step' for many mainframe shops; green screen in a browser.'

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