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MINNEAPOLIS-Stonehaven Realty Trust has sold selected assets of RESoft, its wholly-owned provider of online and software products for the real estate and legal industries, to IntraNet Solutions Inc., a provider of Web content management solutions based inEden Prairie, MN. IntraNet officials say they will pay 200,000 shares of IntraNet Solutions common stock valued at about $5.5 million for RESoft’s SmartCabinet contentmanagement product, which is built on IntraNet Solutions’ Xpedio Content Management system and designed for vertical markets such as the real estate and legal industries.

SmartCabinet enables professionals to manage and share every-day business content, such as financial reports, tenant leases and blueprints, with employees, customers, partners and vendors via the Web. Through the acquisition, IntraNet Solutions willobtain 12 RESoft employees, including Mary Henschel, former president of RESoft, and developers and consultants with expertise in developing content management software products for the real estate and legal industries.

RESoft provides its technology to more than 90 customers worldwide, including GeneralMills and Cargill.

“RESoft has established itself as a leader in providing e-business solutions to the real estate and legal markets, making this a strategic acquisition for IntraNet Solutions,” says Robert Olson, chairman and chief executive officer of IntraNet Solutions.

Last fall, IntraNet Solutions and RESoft formed a strategic relationship in which IntraNet Solutions’ management system provided a key component to RESoft’s new array of document management products called REDocs. REDocs offers speed, access and convenience to real estate owners and operators. The partnership allows RESoft to manage property and portfolio information in a secure Web-based environment. The newsystem is designed to streamline the communications process for the real estate industry, thereby saving property managers’ time and reducing operating costs.

IntraNet Solutions expects to release the first integrated product with RESoft technology in the quarter ending December 31, 2001. The company has more than 475 employees and maintains offices throughout the US, Europe and Australia.

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