RICHARDSON, Texas, Dec. 18 /PRNewswire/ -- 7th Level, Inc. (Nasdaq: SEVL) announced it has signed a letter of intent to acquire two leading software localization/technology transfer entities for approximately $2 million in stock and cash as a base to expand Asia Pacific sales of 7th Level's award-winning CD-ROM education and entertainment products and its upcoming multimedia tools package. The most recent annual revenues of the acquired entities exceeded $2 million dollars.

Founded in 1987 by international multimedia consultant Tom Randolph, Lanpro Corp. and Lanpro Localization Center Inc., based in San Francisco, Calif., localize interactive entertainment and educational multimedia software. Localization efforts are critical to successfully selling U.S. produced software in Japan and other Asian markets. The two Lanpro entities will be merged into 7th Level Asia Pacific.

The acquisition will be accounted for as a purchase and...