updated 02:15 pm EDT, Tue April 8, 2003
ACD Systems and Deneba today announced a where ACD will acquire all of the issued and outstanding shares of privately-held Deneba for $5.5 million. Deneba develops the Canvas cross-platform illustration package, which integrates award-winning Sprite technology, photo editing, page layout, presentation, and Web graphics functions. "Our respective flagship products are extremely complementary, particularly with Denebaís core user group. Moreover, the fact that Deneba has engineered Canvas to fit within ACDís highly evolved and profitable electronic sales and distribution (ESD) channel will take the combined companies into new and exciting territory."