Straightedge signs North American deal

New Capital Market company Straightedge plans to buy the division as part of its move on the main board. It said the deal with Silk Systems would open the door to over 4000 businesses in the North American market.

Darren Wallbank, chief executive of Straightedge Division said the deal would enable trials and sales of software with key hardware branches in North America.

"Silk has the expertise and people who understand our business because they are from the same industry so it is a great fit for both companies," he said.

"This agreement is a seal of approval that opens the door to 4,400 hardware stores across Canada and the US."

Straightedge is being floated to the public at 50 cents per share. The offer close on Friday.

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