CIBC and MIT license New Paradigm's Copernicus; Software company provides application interoperability without programming.Corporation [NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : NPSC] today announced that the Canadian Imperial Bank of Commerce The Canadian Imperial Bank of Commerce TSX: CM NYSE: CM, better known to most customers as CIBC, is one of Canada's major banks. CIBC is classified as a Domestic Chartered Bank (Schedule I). (CIBC), one of Canada's largest banks, and the Massachusetts Institute of Technology Massachusetts Institute of Technology, at Cambridge; coeducational; chartered 1861, opened 1865 in Boston, moved 1916. It has long been recognized as an outstanding technological institute and its Sloan School of Management has notable programs in business, (MIT MIT - Massachusetts Institute of Technology ) have agreed to license Copernicus(TM), NPSC's flagship product. CIBC is using Copernicus to link its customers' purchase order systems directly to the bank's letter of credit system. MIT will use Copernicus to allow information to pass between different systems in its administration and accounting area. "Today's announcement is yet another example of how well Copernicus works," said Mark Blundell, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of New Paradigm Software Corp. "Both CIBC and MIT were pilot projects and now have become New Paradigm customers." New Paradigm estimates it will receive more than $200,000 in revenues from these two customers. In addition, MIT has agreed to undertake certain development tasks to advance Copernicus to new platforms. Copernicus is marketed to systems integrators, software houses and end-users for $100,000, depending on configuration and usage. Based in New York, New Paradigm Software Corp. was founded in 1993 and formed to provide "zero-code" solutions as an innovative alternative for disparate computer programs to work together. CONTACT: Ruder Finn George Medici/Michele Macauley 212/715-1696 or 212/715-1675 |
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