To: Jack of All Trades who wrote (19110 ) 5/19/1998 11:02:00 AM From: douglas hicks Respond to of 34592
Wordcraft To Acquire Next Century Systems, Inc. PR Newswire - May 19, 1998 10:15 WORC %CPR %TNM V%PRN P%PRN IRVINE, Calif., May 19 /PRNewswire/ -- Wordcraft Systems, Inc. (OTC Bulletin Board: WORC) today announced that it has recently entered into an agreement to acquire all of the outstanding shares of Next Century Systems, Inc. (NCS), a privately owned company, in exchange for Wordcraft's Common Stock. This merger will effectively create a joint venture between Wordcraft and a software developer and will also diversify the company's software product line further, providing a safeguard against software market fluctuations. Mr. Walter Turner, President of NCS, has advised us that it is in the final stages of negotiations for the worldwide distribution and marketing rights of a proprietary software; Swim "GIS," Swim "Desk," and Swim "Pen," developed by and currently operating at a major water utility in California. The Swim "GIS" software allows the user (a utility) to provide facility mapping data and infrastructure maintenance by utilizing Geographic Information Systems (GIS) technology. The Swim "Pen" software provides work order management, field crew dispatch and facility service locations utilizing Global Positioning Systems (GPS) technology. These utility software products will be priced in the low six figures, and will substantially increase efficiency and thus reduce operating expenses for the user. The products operate in Windows NT and UNIX, the most popular platforms in business today. Water utilities are generally highly profitable entities, which are owned by municipalities or, in some cases, by the private sector. At many municipalities the water utilities division is one of its major profit centers and can be further enhanced by a more efficient maintenance program. One major utility has already integrated the mentioned Swim software system and has reduced maintenance costs significantly. The software has been designed broadly and can be modified for the Gas and Electric Utilities as well. There are over 4,000 water utility companies in the United States alone with a combined total software market potential in excess of $600 Million. SOURCE Wordcraft Systems, Inc. /CONTACT: Harrison Mittler for Wordcraft Systems, Inc., 949-261-7044/ (WORC)