Pegasus Solutions to Strengthen Presence in Japan Through Reservations System Agreement with NEC.Business Editors & High Tech Writers PHOENIX & TOKYO--(BUSINESS WIRE)--July 9, 2001 NEC (NEC Corporation, Tokyo, www.nec.com, www.necus.com) An electronics conglomerate known in the U.S. for its monitors. In Japan, it had the lion's share of the PC market until the late 1990s (see PC 98). NEC was founded in Tokyo in 1899 as Nippon Electric Company, Ltd. Gains Rights to Sell and Operate Pegasus' RezView(R) Central Reservations central reservation Noun Brit & NZ the strip that separates the two sides of a motorway or dual carriageway central reservation n (BRIT) (AUT) → mediana System Technology in Japan Pegasus Solutions, Inc. (Nasdaq: PEGS PEGS polyethylene glycols used as drug solvents. ) today announced it is strengthening the company's position in the Japanese hotel market through its freshly inked five-year licensing agreement with Tokyo-based NEC, a leading global high technology company. The Transportation and Service Industries Solutions division of NEC obtains nonexclusive rights to sell and operate Pegasus' RezView(R) central reservations system (CRS CRS Course CRS Certified Residential Specialist (real estate certification) CRS Central Reservation System CRS Can't Remember Stuff (polite form) CRS Cost Reduction Strategy CRS Consumer Relations Specialist ) technology in Japan. Dallas-based Pegasus Solutions is a leading provider of hotel industry transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. solutions and electronic commerce services. The new strategic alliance creates the potential for Pegasus to secure significant incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. hotel business in Japan and build on its existing CRS software licenses In computing, software that is copyrighted and licensed under a software license is done under a variety of licensing schemes. For end-users there are proprietary licenses and there are free software licenses, and there are proprietary Within these schemes are further classifications. with 20 hotel brands and 12,000 properties worldwide. NEC's agreement with Pegasus strengthens NEC's existing popular product and service offerings in Japan. NEC provides property management system (PMS (Pantone Matching System) A color matching system that has a unique number assigned to more than 500 different colors and shades. This standard for the printing industry has been built into many graphics and desktop publishing programs to ensure color accuracy. ) products and support to hotel companies in Japan and holds more than 40 percent of the country's PMS market share. Under the umbrella agreement, the NEC Service Bureau is being established to support Japanese hotel companies' CRS needs by leveraging Pegasus' robust RezView CRS technology infrastructure. NEC will house hotel data in its RezView CRS database in Tokyo and convert select CRS screen menus into Japanese. Pegasus will continue to directly support its existing ASP hotel customers in Japan, which include Nikko Hotels, New Otani The New Otani is a chain of hotels, with headquarters in Tokyo, Japan. The main hotel in Tokyo opened in 1964, to coincide with the Tokyo Olympics of that year, and is known for the revolving restaurant atop the hotel, along with the New Otani Art Museum located on its sixth floor. , RIHGA Royal, among others. "In our pursuit of strategic alliances, we seek to engage in relationships with best-of-breed product and service providers. Pegasus brings to the table a proven, flexible CRS infrastructure to effectively assist NEC in addressing the varied needs of Japanese hoteliers," said Susumu Fukushima, NEC's general manager of its Transportation and Service Industries division. "Our relationship with Pegasus enables us to immediately increase the value of our service offerings by providing a more comprehensive reservations solution to Japanese hotel brands." "Aligning with a market leader like NEC sets the stage for Pegasus to realize positive movement in our Japanese market share," said John F. Davis John F. Davis (July 11, 1907 – July 18, 2000) was an American lawyer and law professor whose career included ten years of service as Clerk of the Supreme Court of the United States. III, chairman and chief executive officer of Pegasus Solutions. "Our relationship with NEC affords us timely and efficient access to incremental hotel business in the burgeoning Japanese market." Pegasus' RezView CRS is used on an ASP basis by more than 10,000 hotel properties, representing over 2 million hotel rooms worldwide. Pegasus also provides CRS software licenses to an additional 20 hotel brands, representing 12,000 hotel properties. The RezView CRS houses hotel data, including rates and inventory availability, to support voice, global distribution system and Internet reservations processing. Pegasus' NetRez(R) information management tool enables hoteliers to immediately update property rates and inventory online via the Internet. Company Information NEC Corporation (Nasdaq: NIPNY) (FTSE FTSE A company that specializes in index calculation. Although not part of a stock exchange, co-owners include the London Stock Exchange and the Financial Times. Notes: The FTSE is similar to Standard & Poor's in the United States. : 6701q.l) (TYSE: 6701) is a leading provider of Internet solutions, dedicated to meeting the specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. needs of its customers in the key computer, network and electron device fields through its three market-focused in-house companies: NEC Solutions, NEC Networks and NEC Electron Devices. NEC Corporation, with its in-house companies, employs more than 150,000 people worldwide and saw net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of 4,991 billion Yen (approx. US $48 billion) in fiscal year 1999-2000. For further information, please visit the NEC home page at: http://www.nec-global.com. Dallas-based Pegasus Solutions, Inc. (www.pegs.com) is a leading global provider of hotel reservation technologies. Its services include central reservations systems; electronic distribution services that connect more than 40,000 hotels to the Internet and to the global distribution systems (GDS GDS Global Distribution System GDS Google Desktop Search (Google) GDS Goodie Domain Service (Vienna University of Technology, Austria) GDS Guards ); travel agent commission processing and payment services; the consumer Internet site TravelWeb.com (www.travelweb.com); the Utell marketing and reservation representation service (www.Utell.com); and PegasusCentralTM, a Web-based enterprise solution with property management applications. Pegasus' customers comprise more than 100,000 travel agencies around the world, including nine of the 10 largest U.S.-based travel agencies1; more than 44,000 hotel properties around the globe, including 18 of the 20 largest hotel companies in the world based on revenues and total number of guest rooms2; and thousands of Web sites/services have their hotel reservations Powered by Pegasus(TM). In addition to its corporate headquarters in Dallas, Pegasus has 35 offices in 22 countries, including regional hubs in Phoenix, London and Singapore. The company's stock is traded on the Nasdaq National Market under the symbol PEGS. This statement contains references to future events and projected results, including anticipated transactions involving the Company and its service offerings. There can be no assurance that the referenced future events or projected results will actually occur or that the future financial performance of the Company will be as projected. Actual occurrences, results and performance may differ substantially and materially from those projected as a result of risks and uncertainties mentioned in this statement or detailed in the Company's periodic reports and registration statements filed with the Securities and Exchange Commission including its Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 1999, and its Form S-4 (File No. 333-92683) that was declared effective March 31, 2000. 1 Travel Weekly, June 26, 2000, "Top 50 Travel Agencies" 2 Business Travel News, May 29, 2000, "The Top Hotel Companies" |
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