Printer Friendly

RECOGNITION AND IBM SIGN AGREEMENTS

 DALLAS, Oct. 8 /PRNewswire/ -- Recognition International Inc. (Recognition) (NYSE: REC) today announced it has signed agreements with IBM's Document and Check Image Solutions (D&CIS) formalizing their letter of intent announced June 22, 1993. Under the agreements, IBM D&CIS and Recognition will combine the capabilities of IBM's ImagePlus(A) High Performance Transaction System (HPTS(A)), a leading- edge check image platform, and Recognition's Lundy(B) MRS/PET(B) family of high-performance power encoding transports.
 IBM will market the new Recognition power encoding product to customers for encoding of the amount field information on the MICR line of a check at speeds up to 1,000 documents per minute.
 The resulting product will be beta and pilot tested with product deliveries expected to begin in the summer of 1994. IBM has agreed to sell a minimum of approximately $10 million of the product within the first year following successful completion of beta and pilot testing.
 Commenting on the agreements, Dennis R. Constantine, president of Recognition's Systems Division said, "We are pleased with what we believe will be a mutually rewarding relationship for IBM, Recognition, and customers."
 Recognition, headquartered in Dallas, is a leading international open systems supplier of high-performance document recognition systems, image and workflow software, and related customer services.
 (A) -- Indicates a trademark or registered trademark of International Business Machines Corporation.
 (B) -- Indicates a trademark or registered trademark of Recognition International Inc.
 -0- 10/8/93
 /CONTACT: Larry H. Lattig of Recognition International Inc., 214-579-6314/
 (REC IBM)


CO: Recognition International Inc.; IBM ST: Dallas IN: CPR SU:

TW -- NY009 -- 0058 10/08/93 09:56 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 8, 1993
Words:267
Previous Article:BANKERS TRUST $150 MILLION 6 PERCENT SUBORDINATED NOTES RATED 'AA-' BY FITCH -- FITCH FINANCIAL WIRE --
Next Article:VIDEOCART CLAIMS AGAINST INFORMATION RESOURCES, INC.
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters