Paracon is forging ahead with its acquisition of the resurrected Software Futures from MGX.
Paracon and MGX announced early last month that they had signed a memorandum of understanding in terms of which it was proposed that Software Futures be sold to Paracon.
The Software Futures brand fell into disuse after the company, formed by Aletha Ling, now an MGX director, was acquired by CCH.
CCH was in turn acquired by MGX in 2000. The Software Futures brand was resurrected, sparking speculation that it would be sold. MGX initially denied that it would sell the business.
The groups say in a cautionary notice to shareholders that Paracon has completed its due diligence exercise and the companies are in the process of concluding a formal agreement.
Analysts have said that the deal makes sense, as MGX is focusing on its services business and not software development.
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