Aladdin Systems, the folks who develop and publish a variety of Mac software products such as StuffIt Deluxe and Spring Cleaning, may merge with
Activeworlds provides software products and online services that let users enter, move about and interact with others in a computer-generated, three-dimensional virtual environment using the Internet.
The two companies announced Friday that they’ve entered into a letter of intent regarding a non-binding proposal pursuant to which Aladdin would merge into Activeworlds. If it happens as planned, Aladdin’s outstanding common stock immediately prior to the merger would be exchanged into such amount of Activeworlds’ common stock representing, subject to certain adjustments, 60 percent of Activeworlds’ outstanding common stock immediately after the merger.
According to the companies, “consummation of the merger is subject to numerous conditions, including the execution of a definitive merger agreement.”