Steel Partners buys 7.9% stake in Selectica

By Lisa Kerner

Charlotte, N.C., Feb. 20 - A group of Selectica, Inc. shareholders led by Steel Partners II, LP, purchased 2,545,222 shares, or 7.9%, of the company's common stock for about $5.6 million as an investment, according to a schedule 13D filing with the Securities and Exchange Commission,

The shares were considered undervalued by the investors who do not plan to become active in Selectica's business as this time.

Selectica is a San Jose, Calif., Internet software development company.

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