The Stockpage April 17th, 1998
Since being profiled Interactive Objects (OBJX) has been very active.
The stock has traded as high as $5.25. This is a 56% gain from it's
profiled price.
At the close of the market today, OBJX announced that the company has
received a major contract from SAFECO. The contract is worth over $2
million. This press release is included below.
We are expecting that OBJX will be announcing more new lucrative
contracts within the next few weeks.
For a full profile on OBJX visit our website at
thestockpage.com
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SAFECO Awards Interactive Objects $2M Enterprise-wide Internet
Project
Interactive Objects' Expertise in Object-Oriented Web Technology Key to
Their Selection
REDMOND, Wash.--(BUSINESS WIRE)--April 17, 1998--Interactive Objects
Inc. (OTC BB:OBJX - news) creators of modular software development tools
and components, announced today that SAFECO Corporation (SAFECO) has
awarded Interactive Objects' Consulting Division a $2 million contract
outlined in a joint software development agreement.
Under the terms of the agreement, Interactive Objects will join with
SAFECO's corporate developers in a highly strategic Intranet-based
information automation system code named ''ProjectX.''
''SAFECO selected Interactive Objects after an exhaustive process of
evaluating responses to an RFP (request for proposal) submitted to over
ten leading consulting firms in the IT market,'' states Eric Gulotta,
Assistant Vice-President of Information Systems for SAFECO. ''We chose
Interactive Objects because of the unique blending of technology and
business expertise they had to offer. They gave us a very detailed and
complete RFP response that demonstrated a good understanding of our
business problem. This response, combined with their thorough
understanding of Internet component-based application design,
made our decision to partner with them very easy.''
''SAFECO has effectively used computer technology and advanced business
practices to make them one of the nation's largest diversified financial
services corporations,'' explains Steve Jackson, Chief Technology
Officer of Interactive Objects. ''Their decision to partner with
Interactive Objects underscores our innovative leadership in the
industry and their commitment to advanced technology. Our unique
understanding of application technology allow us to provide companies
like SAFECO a significant competitive advantage by strengthening their
internal communications through object modeling.''
Interactive Objects also announced today their intent to cancel
development of all planned Novell-based controls. The move enables
Interactive Objects to focus their corporate resources exclusively on
the Windows NT environment.
About SAFECO Insurance Company of America
Founded in 1923 as the General Insurance Company of America, SAFECO
today is one of the largest diversified financial corporations in the
country with more than $27 billion in combined assets as of June 30,
1997, and combined 1996 revenues of $6 billion. Property and casualty
insurance was SAFECO's original business and remains its largest
operation. With the acquisition of American States, SAFECO ranks as the
15th largest property and casualty insurer in the country. The
corporation employs more than 11,000 people and is represented by more
than 8,000 independent agents nationwide.
About Interactive Objects
Interactive Objects Inc. develops and markets modular software
development tools and components. These ActiveX tools enable Windows
NT/95 programmers to develop or upgrade communications systems -- both
intranet and Internet - without spending an inordinate amount of time or
money learning new systems and languages. A publicly traded company,
Interactive Objects was founded by a pair of Microsoft veterans in 1995.
Interactive Objects is headquartered at 17720 NE 65th Street, Suite 202,
Redmond, WA 98052.
Interactive Objects is located on the Web at iobjects.com. |
