SCS Solars enters agreement with Hitchhiker Software GmbH of Germany
SCS Solars Computing Systems Inc SCS
Shares issued 30,557,801 Jul 7 close $1.29
Wed 7 Jul 99 News Release
Mr. Frank Wells reports
SCS Solars Computing Systems has signed a letter of intent (LOI) with
Hitchhiker Software GmbH of Frankfurt, Germany, to deliver a fully
integrated online automation service to travel agents throughout Europe and
worldwide. Tho LOI covers the framework, already agreed to by both parties,
providing for revenue-sharing of data management and automation fees which
will evolve into a formal agreement over the coming weeks. The LOI allows
both companies to immediately initiate the sales and marketing plans for
the European markets (Germany, Austria, Switzerland and France) targeted in
the first phase.
Hitchhiker Software GmbH is a leading European software company that
specializes in the travel market and has a proven track record in providing
major travel companies with all their inventory management and booking
requirements. The company currently manages travel data for more than 30
major travel consolidators in Germany, Austria, Switzerland and North
America, including Solarnet customer DER Travel Services, and is growing
rapidly. The initial focus of the marketing plan will be on the German
market which currently accounts for over 100,000 tickets per day. It is
anticipated this new alliance will provide SCS Solars with a significant
opportunity for revenue growth resulting from the exposure to this new
market. As SCS Solars and Hitchhiker completes the expansion into the
initial target markets, the service will be rolled out on a global basis.
Solarnet has, for some time now, been used and recognized by some of the
largest consolidators in North America as the best solution to meet
automated distribution requirements. By working together to offer fully
integrated on-line automation capabilities to a growing European client
base, agents will save time, and consolidators considerable expense, in
processing. This agreement demonstrates the growing realization in the
global travel industry that Solarnet represents the future of travel
information distribution."
Thomas Boffo, managing director of Hitchhiker Software, added: "Hitchhiker
has been very successful in expanding its travel software product suite
with particular emphasis in Europe where we already have a strong market
presence in Germany, Austria and Switzerland. Through the DER link we have
worked with the Solarnet Travel Network for many months and are pleased to
join in this exciting partnership."
"In Europe, as in North America, the opportunity to automate what has been
to date an expensive and labor-intensive processing system is exciting,"
added Boffo. "Automation is new to the consolidator market sector and holds
the promise of revolutionizing the economics of travel information
distribution and bookings. The SCS Solars and Hitchhiker relationship will
completely automate the way consolidator bookings are made by travel
agents."
Hitchhiker Software has specialized in fare management products since 1991.
Their client base includes 35 ticket brokers and five airlines in the
European and U.S. markets. Hitchhiker's robust software system VisualFares,
is Windows-based and has the ability to maintain over one million tariffs,
deliver a wide variety of distribution tools for all the individual
countries, provide an automated Fairquote & Ticketing engine, and provides
wait-list robots for the internal automation of the daily broker and
corporate travel business. Hitchhiker connects to Sabre, Galileo, Amadeus
and Worldspan, and also offers a powerful Internet technology for Looking &
Booking net and published fares.
WARNING: The company relies upon litigation protection for
"forward-looking" statements.
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