During the fiscal year ended March 31, 1997, Visigenic
completed the acquisition of PostModern Computing Technologies, Inc,
a supplier of distributed object technology. In the acquisition
Visigenic issued 3,099,821 shares of its common stock and paid
a total of $2.3 million in exchange for all of PostModerns'
outstanding shares. In connection with the purchase price
allocation, Visigenic received an appraisal of the intangible
assets which indicated that approximately $12.0 million of the
acquired intangible assets consisted of in-process product development
which had not reached technological feasibility and, in the
opinion of management, had no alternative future use. The
acquired in process development was charged to expense in the
Company's 1997 Statement of Operations.
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