IVI Checkmate Announces Reseller Agreement With Kyrus
IBM'S Largest Retail Business Partner To Resell IVI Checkmate Terminals
and Transaction Management Software
ATLANTA/TORONTO, Feb. 26 /CNW/ - IVI Checkmate Corp. (NASDAQ: CMIV);(TSE: IVC/IVI) today announced it has reached a reseller agreement with Kyrus,
IBM's largest provider of POS systems. Under terms of the agreement, Kyrus
will resell IVI Checkmate's consumer payment terminals and transaction
management software to the supermarket, retail, convenience, hospitality and
school (K-12) food service markets.
The agreement positions IVI Checkmate to partner with Kyrus' direct sales
force to sell the e(N)-Touch 1000 customer-interactive touch screen and
signature capture terminal, and the e(N)-Crypt 2100 customer-activated
debit/credit terminal into the tier 1 retail marketplace. Additionally, Kyrus
will resell IVI Checkmate's end-to-end solution set of terminals and
transaction management application software through Kyrus' indirect reseller
program targeted to the middle and lower-tier retail marketplace.
Frank Pepe, Kyrus Vice President, Business Solutions, stated, ''IVI
Checkmate offers Kyrus a complete payment and transaction management solution
set that will eliminate the complexity of payment management we face today.
This will allow us to concentrate on improving our core application and system
functionality.'' Pepe adds, ''IVI Checkmate's end-to-end transaction
management solution will also allow Kyrus to provide a total store solution
through our indirect reseller program.''
Formerly known as MidSouth Data Systems, Kyrus has customer installations
in all 50 states, and in several countries. The company serves the
supermarket, retail, convenience, hospitality and school (K-12) food service
industries, and its customers are among the industry leaders in each of the
segments served. Kyrus offers a complete range of products and services,
including hardware/software, development and integration, customer support,
hardware/software maintenance, professional and consulting services, and has
separate business units dedicated to store security, store signage, and store
media and supplies. Kyrus serves these industries through a direct salesforce
and a business partner program with 40 resellers that is anticipated to grow
to 60 resellers by yearend.
Founded in 1974, Kyrus is headquartered in Taylors, SC and employs over
540 people nationally. Kyrus is IBM's largest provider of POS systems and has
been named IBM's Retail Industry ''Remarketer of the Year'' for the past eight
years. For the second year in a row, the Company received the IBM Business
Partner Leadership Award for its accomplishments in 1997 and 1998. For more
information on Kyrus, visit their web site at www.kyrus.com.
IVI Checkmate is the third largest electronic transaction solutions
provider in North America. The Company designs, develops, and markets
innovative payment and value-added solutions that optimize transaction
management at the point-of-service in the retail, financial, hospitality,
healthcare, and transportation industries. IVI Checkmate's software, hardware,
and professional services minimize transaction costs, reduce operational
complexity, and improve profitability for its customers in the U.S., Canada
and Latin America. For more information on IVI Checkmate, visit their web site
at www.ivicheckmate.com.
This press release contains forward-looking statements subject to the
safe harbor created by the Private Securities Litigation Reform Act of 1995.
Management cautions that these statements represent projections and estimates
of future performance and involve certain risks and uncertainties. The
Company's actual results could differ materially from those anticipated in
these forward-looking statements as a result of certain factors including,
without limitation, the Company's dependence on its limited suppliers and
manufacturers of component parts of its products; rapid and significant
technological developments that could delay the introduction of improvements
in existing products or of new products; the Company's dependence on its
proprietary technologies (which may be independently developed by
competitors); the Company's dependence on a small number of large retail
customers; the potential fluctuation in financial results as a result of the
Company's inability to make sales to large customers as well as the volume and
timing of bookings received during a quarter and variations in sales mix;
competition from existing companies as well as new market entrants; and, the
Company's dependence on key personnel.
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For further information: L. Barry Thomson, President & CEO, IVI
Checkmate Corp., (416) 245-6700; John J. Neubert, CFO/Executive Vice
President, IVI Checkmate Corp., (770) 594-6000
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