CONTINUUM ANNOUNCES CONTRACT IN FRANCE
CONTINUUM ANNOUNCES CONTRACT IN FRANCE AUSTIN, March 24, /PRNewswire/ -- The Continuum Company, Inc.
(NYSE: CNU) announced that it has entered into contracts with GROUPAMA of Paris, a major life insurance company, and IBM France, providing for the license and implementation of Continuum's CCA2(TM) family of life insurance software products.
License revenue from the project should total approximately $2,500,000, mostly recognizable during the first half of fiscal 1993 as software is delivered to GROUPAMA. Service revenue will be recognized as work is performed over the next two years. W. Michael Long, chief executive officer, noted, "This is a strategically important development contract for Continuum and significantly strengthens our presence in Continental Europe. We will adapt our life insurance products to the needs of a major French company." Joint marketing efforts with IBM France resulted in Continuum's first major software license in France. Continuum will provide services related to the project as a sub-contractor to IBM France, who is providing project management services and computer hardware to GROUPAMA. The Continuum Company, Inc. is an international consulting and computer services firm based in Austin, Texas, serving the needs of life insurance, property and casualty insurance and other financial services companies for computer software and services. -0- 3/24/92 /CONTACT: John L. Westermann III of Continuum Company, 512-345-5700/ (CNU) CO: Continuum Company, Inc. ST: Texas IN: CPR SU: CON SM -- NY042 -- 1105 03/24/92 13:12 EST
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|Date:||Mar 24, 1992|
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