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SARASOTA — Sebring Software Inc. (symbol: SMXI) acquired the Scalix Email and Calendaring Platform from Xandros Inc., a New York-based firm, for $12 million.
To complete the acquisition, Sebring will pay Xandros $5.75 million in cash over six months, plus 6.25 million shares of Sebring's common stock, being valued at $1 per share, a release says.
More than 1,300 clients use Scalix, which runs on the Linux operating system, for email and calendaring, the companies say. In 2010, the business unit generated $2.2 million in gross revenues, along with roughly $500,000 in net income.
Leif Andersen leads Sebring as the company's CEO. The Sarasota-based company's headquarters are located on Cattlemen Road.
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