TeleSoft Inc of San Diego is to be acquired by Televerket, the Swedish phone company, which already owns TeleLogic AB of Stockholm and has 29% of TeleSoft through its TeleInvest subsidiary. TeleSoft specialises in Ada compilers, tools and professional services, and TeleLogic is a software consultancy specialising in applications development for the telecommunications industry. Telesoft values itself at $40m and says the companies had combined sales of $48m last year and look for $60m this year. TeleInvest is to maintain a majority interest in the new TeleSoft AB, and is seeking to place a minority through Skandinaviska Enskilda Banken, and PaineWebber Development Corp, New York will also hold a minority interest.
