BOSTON TECHNOLOGY SIGNS SOFTWARE DEVELOPMENT AGREEMENT WITH LOGICA NORTH AMERICA INC.
WAKEFIELD, Mass., June 22 /PRNewswire/ -- Boston Technology, Inc. (NASDAQ:
BSTN) today announced that it has signed an agreement with Logica North America Inc. to form a software development partnership. The agreement provides for Logica to perform certain software development for Boston Technology on several major customer projects currently in progress and to share in the revenue from identified projects on a royalty basis. The value of Logica's software development work in the first year of the agreement is estimated at $5 million.
"We have numerous major opportunities around the world which require software development work. In order to meet these demands, we needed to find a software development partner whom we could work with as a team to meet this demand," commented Dr. John C.W. Taylor, president and chief executive officer of Boston Technology. "We believe that Logica's experience in software development and their understanding of our industry and requirements make this the ideal partnership for us." Taylor continued, "We are currently spending a significant percentage of our revenues on research and development efforts and believe that this is necessary in order to take advantage of the many opportunities facing the company in the enhanced services market. We expect that our relationship with Logica will give us the flexibility and development capability to meet these demands as our business continues to grow." Bill Fello, president and chief executive officer for Logica, added, "We are pleased to be a partner with Boston Technology working on projects that we believe are at the leading edge of enhanced services and telecommunications technology. We think that our worldwide software development experience and Boston Technology's vision and entrepreneurial spirit will work extremely well together. The structure of this partnership also gives us the opportunity to share in Boston Technology's successes in the enhanced services market -- an opportunity we are very excited about." Logica North America Inc. is a subsidiary of Logica plc, one of the largest systems integration, consulting and software firms in the world with offices in 14 countries and 3,300 employees worldwide. Total revenue of Logica plc for 1992 was $350 million. Logica enables organizations to implement high quality strategic solutions through systems integration, consulting, application development, and software products. With 25 years experience in systems development, Logica helps customers apply technology to achieve a business advantage. The Logica organization worldwide provides software and services to the banking, financial services, space, telecommunications, defense, government, manufacturing, transportation, computing and electronics, energy, and utilities industries. Logica North America Inc. is headquartered in Waltham, Mass. Based in Wakefield, Mass., Boston Technology develops, manufactures, markets and supports systems that provide enhanced voice and information processing services for domestic and international telephone companies, wireless telephone service providers, interexchange carriers, other service providers, and large organizations. CO ACCESS is a trademark of Boston Technology, Inc. -0- 6/22/93 /CONTACT: Katherine Raphaelson, director, investor and public relations, 617-246-9000, ext. 3504/ (BSTN)
CO: Boston Technology; Logica North America Inc. ST: Massachusetts IN: CPR SU:
DH -- NE006 -- 4461 06/22/93 09:59 EDT
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|Date:||Jun 22, 1993|
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