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Technology Stocks : Enterprise Informatics -- Ignore unavailable to you. Want to Upgrade?

To: Greg h2o who wrote (3687)	5/18/1999 4:52:00 PM
From: bob zagorin	Respond to of 13797

from KM World. INSIDE THE INDUSTRY ================================== ALTRIS SOFTWARE LOOKS ACROSS THE POND FOR NEW OWNERSHIP In a complicated arrangement, South African IT company Spescom Ltd. has invested $4 million in document management vendor Altris Software ("Altris"). Spescom has purchased a 17% interest in Altris Software for $3.0 million, and will invest an additional $1.2 million for 60% ownership in Altris' U.K. subsidiary Altris Software Ltd. ("ASL"). Altris will match Spescom's ASL investment with $400,000 of its own. Additionally, ASL will become the exclusive worldwide distributor for both Altris and Spescom, excluding North and South America and the Caribbean. Altris will distribute Spescom's EMS 2000 configuration management products in the Americas. The agreement includes other stipulations, including the development of a $200,000 escrow account and a 1 million-share bonus to Spescom if Altris' shareholder lawsuit settlement is unresolved by September 30, 1999. Altris and Spescom have shared customers in British Nuclear Fuels, Bombardier and London Underground, according to Altris CEO Roger Erickson, and the new arrangement is a natural progression of that relationship. The extra capital "will be of significant help" as Altris prepares to market and sell its new Altris EB document management software..."