Monday April 26, 8:31 am Eastern Time
Company Press Release
SOURCE: TenFold Corporation
TenFold and Perot Systems Announce
Strategic Alliance to Deliver
Applications and Services; Perot
Systems to Purchase Equity Stake in TenFold
SALT LAKE CITY, April 26 /PRNewswire/ -- TenFold Corporation, an innovative software and
services company, and Perot Systems Corporation (NYSE: PER - news) of Dallas, Texas today
announced a strategic alliance to develop and deliver applications and related services to customers
worldwide. The two companies will work together to provide customer solutions using TenFold's
methodology and unique technology for rapidly delivering large-scale, complex applications.
In addition, Perot Systems will have the opportunity to purchase 1,000,000 TenFold shares being
offered in TenFold's pending initial public offering. TenFold filed a registration statement with the
Securities and Exchange Commission March 8, 1999 relating to its proposed initial public offering of
common stock.
Through their strategic relationship, TenFold and Perot Systems plan to deliver innovative
applications, products and services to joint customers in insurance, investment management, banking
and credit, utilities and energy, healthcare, telecommunications, and other industries. This alliance will
provide an important new capability to Perot Systems' already established integrated service
offerings. Under the terms of the agreement, Perot Systems will provide TenFold with opportunities
to generate $30 million of revenues for customer applications and services contracts.
''I have been in the information technology industry for over forty years and TenFold is one of the
most unique companies that I have ever encountered,'' said Ross Perot, chairman and chief executive
of Perot Systems. ''I believe TenFold's technology will have a positive impact on the information
technology industry. Unlike many new technology companies, TenFold has a seasoned, experienced
team of business leaders, technologists and a strong sales force. TenFold's business ethics and high
personal standards for their team members are major factors in their success. It is a privilege to work
with TenFold to help achieve its full potential.''
TenFold will train Perot Systems staff on the TenFold Way, TenFold's disciplined methodology for
designing, building and delivering applications. The two companies will deliver applications based on
TenFold's unique Universal Application(TM) that automates and accelerates applications
development and testing.
''TenFold and Perot Systems have complementary business models,'' said Gary Kennedy, president
and CEO of TenFold Corporation. ''In the past few weeks we have identified numerous
opportunities where we will work with Perot Systems to add significant value to their clients.
TenFold and Perot Systems will provide customers innovative, vertical industry applications not
available from today's software vendors and traditional service companies.''
Building Applications the TenFold Way
TenFold and Perot Systems plan to rapidly build and implement complex applications for customers
using the TenFold Way, a start-to-finish approach to working closely with customers to design,
develop, test, deliver, and evolve custom applications. The TenFold Way organizes a project into
phases, each with well-defined activities and deliverables, and combines continuous communication
and customer feedback with rapid, iterative development to keep projects on target.
Applications developers use the TenFold Way in conjunction with the Universal Application, a
sophisticated applications architecture that reduces design effort and automates and accelerates
applications development and testing. Using the Universal Application, applications developers begin
projects having pre-built significant functionality and having already solved many complex
applications design and implementation problems. In addition, TenFold ComponentWare is a library
of components, reusable across multiple applications and industries, that add complex,
business-specific functionality to an application and reduce applications-specific programming.
TenFold and Perot Systems will also use FastStart technology and implementation services to
quickly put applications into production. FastStart automates much of the data conversion, data
cleanup, applications interfacing, and parallel testing needed to rapidly implement applications.
About TenFold
TenFold is an innovative software and services company that builds large-scale, complex
applications rapidly and for a fixed price. The TenFold Guarantee is the industry's first money-back
guarantee for large-scale software applications: TenFold delivers applications on time, on budget,
and on target -- or will refund a customer's money. TenFold applications support multi-tiered,
distributed, and Web-based environments, as well as leading database platforms. Customers include
leaders in insurance, investment management, banking and credit, utilities and energy, healthcare,
telecommunications, and other industries. For more information, call (800) TENFOLD or visit |
