The Content Management Suite (CMS) product line of POET Holdings, Inc. was sold to Sorman Information AB, Vaxjo, a Swedish company. The agreement provides that Sorman will assume the intellectual property rights for CMS worldwide except for the United States, Canada and South Korea and the obligations associated with the European CMS customer base. Sorman has a six month exclusive option to assume the intellectual property rights for the United States and Canada. The agreement includes a license fee arrangement which would provide license revenues to POET based upon future CMS sales by Sorman within the next three years. In addition, Sorman has entered into a license agreement for the POET Object Server Suite (OSS).