Mitek Products Attract Variety of Business Agreements -- Company officials attribute interest to maturity of product lines.Business Editors SAN DIEGO--(BUSINESS WIRE)--July 19, 2000 Mitek Systems, Inc. (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 : MITK), a developer of automated document recognition technology, announced it has formalized for·mal·ize tr.v. for·mal·ized, for·mal·iz·ing, for·mal·iz·es 1. To give a definite form or shape to. 2. a. To make formal. b. a number of licensing agreements. The company signed original equipment manufacturer (OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and ) agreements with J & B Software and Docubase for Mitek's Doctus product, a data capture and forms processing system. The company also announced it has licensed its check processing application, CheckQuest, to Rancho ran·cho n. pl. ran·chos Southwestern U.S. 1. A hut or group of huts for housing ranch workers. 2. A ranch. Bernardo Bank in Rancho Bernardo, CA, and Bank of Ellaville in Ellaville, GA. "These deals point to the growing interest in our document management and check imaging products," said John Thornton John Thornton is the name of:
Formalizing the OEM agreement with J & B Software, a forms and remittance Money sent from one individual to another in the form of cash, check, or some other manner. Financial statements sent by a creditor to a debtor frequently refer to the process of submitting a monthly remittance. REMITTANCE, comm. law. processing company based in Blue Bell, PA, will allow the company to expand its offerings. "The Mitek suite of products allowed us to move into markets we had not be in traditionally," said Rich Miller, director of marketing at J & B Software. "Using Mitek's Doctus product will give us the tremendous opportunity to diversify." Docubase Systems, Inc., based in Boulogne, France, plans to use Doctus as a part of its Docubase FormPro product, which is used in such form-intensive industries as medical, financial, manufacturing and insurance to process documents that do not follow strict formatting or layout rules found in many forms-processing environments. "We found Doctus to be increasingly more accurate than any other application on the market," said Craig Laue, business development and marketing manager for Docubase. "In addition to the product's features, we found that Mitek's depth of technical knowledge, dedication to its OEM partnerships and responsiveness to be a clear fit into what we wanted." About Mitek Mitek Systems, Inc. is a worldwide leader in intelligent character recognition In computer science, intelligent character recognition (ICR) is an advanced optical character recognition (OCR) system that allows fonts and different styles of hand writing to be learned by a computer during processing to improve accuracy and recognition levels. technology, products and services for the document imaging markets. The company's document imaging software engine and intelligent character recognition products and services are used in mission-critical and high volume data entry, data capture, and forms processing applications installed in many of the world's leading financial institutions, manufacturing and service companies, and government organizations. Mitek has made a commitment to expand its document understanding and imaging expertise to the Internet. By shifting its focus, Mitek is able to develop strong business-to-business relationships and create a position for itself in the increasingly Internet-savvy business market. For more information about Mitek Systems or its products, please contact Bill Boersing at 10070 Carroll Canyon Road, San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , CA 92131; 858-635-5900 or visit the company's Web site at www.miteksys.com. Forward-Looking Statement forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. Disclosure With the exception of historical matters, the matters discussed in this news release are forward-looking statements that involve risks and uncertainty. Forward-looking statements include, but are not limited to, statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the development and pace of sales of the Company's products, expected trends and growth in the Company's results of operations, projections concerning the Company's available cash flow and liquidity, anticipated penetration in new and existing markets for the Company's products and the size of such markets, anticipated acceptance of the Company's products by existing and new customers, the ability of the Company to sustain any growth in sales and revenue and the increase in sales representatives and other personnel. The Company's actual results could differ in such forward-looking statements. There can be no assurance that the Company will achieve the results set forth herein. Mitek, Doctus and CheckQuest are trademarks of Mitek Systems, Inc. All other product or company names may be trademarks or registered trademarks of their respective holders. |
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