Trintech is agreeing to pay $21 million in cash and receive $10million in stock plus assume liabilities, subject to finaladjustment on the bottom-line total of assumed debt. In exchange,Trintech will gain intellectual property rights to all Globesetsoftware products, which are mortared in the secure e-paymentinfrastructure market for buyers, sellers and financial entities.Globeset's 300 customers include Southwestern Bell, VerizonWireless, Household International and Pacific Bell plus alliancewith Microsoft and Oki Electric Industry Co. Ltd.

The deal is expected to close in 30 days, but carries a closingcondition hinging on software integration and the usual financialstipulations contained in acquisition contracts. Under the contractterms, Globeset's software and technologies must be able to beintegrated into Trintech's suite before the acquisition goesforward.

Trintech, founded in 1987, is a provider of secure electronicpayment infrastructure solutions for real world, Internet andwireless transactions. Trintech's secure product range is deployedin more than 35 countries and covers payment requirements ofconsumers, card issuing banks, merchant acquiring institutions,merchants, e-merchants, telcos, wireless operators, ISPs/CSPs,portals and large corporations.