Uh-oh. Looks as if the competition's stolen a march on us...
Veronex Announces Strategic Relationship
Veronex Announces License Agreement With VentureTech 2000
IRVINE, Calif.--(BUSINESS WIRE)--Feb. 5, 1998--The board ofdirectors of Veronex Technologies Inc. (OTC/BB:VXTK - news) Thursday announced that it has signed a non-exclusive strategic alliance agreement with VentureTech 2000 Inc. to license the use of its complete I/NOVA System toolset.
The terms of the agreement call for VentureTech 2000 to pay a one time license fee of $2.5 million and to permit Veronex to share in gross revenues generated from the use of the I/NOVA System toolset. The revenue sharing provides for VentureTech 2000 to retain 65 percent of gross revenues and for Veronex to receive 35 percent of gross revenues generated from the use of the I/NOVA Systems toolset.
''The strategic relationship with VentureTech 2000 offers Veronex the opportunity to put its I/NOVA System toolset into use to help solve the critical Year 2000 ('Y2k') problem at major corporations,'' stated Thomas Price, president. ''The I/NOVA's automated solution tool, the DataCentric Analyzer, with its fast analysis and repair capability, offers many large corporations with non-compliant Y2k legacy software their last chance to fix the Y2k problem before they begin to experience mission critical software systems failures.''
''VentureTech 2000 has evaluated many products and believes the I/NOVA solution toolset, with its 'complete system analysis' approach to correcting the Y2k problem, is unique and represents the best methodology for repairing most of the problems associated with legacy source code in outdated application software,'' commented Larry Boose, president of VentureTech 2000. ''While most software solution providers have been focused on the 'lines of code' approach to repairing the Y2k problem, Veronex's I/NOVA System toolset has taken a broader 'complete system approach' which ensures that the entire legacy system is repaired and Y2k compliant.
''The built-in flexibility of the I/NOVA Rapid Application Development Suite tool coupled with the I/NOVA DataCentric Analyzer tool is what gives the I/NOVA System toolset the capability to be a complete, automated Y2k solution tool.
''The DataCentric Analyzer's capability to perform front end assessment and inventory of the complete system, repair the Y2k problem within the system, and then test and verify the repair work, offers a complete end-to-end solution to the Y2k crisis.'' |
