diff --git a/tools/python/jwutils/stree/serdes.py b/tools/python/jwutils/stree/serdes.py
index 50e5c07..b3b575f 100644
--- a/tools/python/jwutils/stree/serdes.py
+++ b/tools/python/jwutils/stree/serdes.py
@@ -41,11 +41,20 @@ def parse(s): # export
             assert(len(sec) > 0)
             sec = '.'.join(sec.split('.')[0:-1])
             continue
-        assignment = line.split('=')
-        if len(assignment) != 2:
+        lhs = ''
+        rhs = None
+        for c in line:
+            if rhs is None:
+                if c == '=':
+                    rhs = ''
+                    continue
+                lhs += c
+                continue
+            rhs += c
+
+        if rhs is None:
             raise Exception("failed to parse assignment", line)
-        slog(DEBUG, "sec=", sec, "assignment=", assignment)
-        root.add(sec + '.' + cleanup_string(assignment[0]), quote(assignment[1]))
+        root.add(sec + '.' + cleanup_string(lhs), quote(cleanup_string(rhs)))
     return root
 
 def read(path): # export