New England Business Service announces agreement to sell software assets

Business Wire, Feb 22, 1996

GROTON, Mass.--(BUSINESS WIRE)--Feb. 22, 1996 -- New England Business Service, Inc. (NYSE:NEB) today announced an agreement to sell selected assets of its Software and Services Division to Peachtree Software Inc. The asset sale will include the rights to the Company's market-leading One-Write Plus(R) accounting package and the Company's software development and technical support organizations. The Company will retain distribution rights to One-Write Plus and will remain the preferred provider of related compatible forms.

Robert J. Murray, Chairman and CEO, explained, "The sale of the assets of the Software and Services Division will serve to focus Company resources on software distribution rather than software development. The Company will continue to market and distribute the highly successful One-Write Plus line. However, the divestiture of the Company's direct ownership interest in One-Write Plus and its related organization will alleviate competitive-based barriers to the Company's distribution of a wide range of third-party small business software. The Company plans to form additional software distribution alliances to make the best integrated software products and forms solutions available to our small business customers."

NEBS manufactures and distributes business forms, software and related printed products through mail order and retail to over one million small businesses throughout the United States, Canada and the United Kingdom.

CONTACT: NEBS

Russell V. Corsini Jr. or John F. Fairbanks

508/448-6111