Iocore and Basware into operator and product development co-operation
IOCORE AND BASWARE INTO OPERATOR AND PRODUCT DEVELOPMENT CO-OPERATION Iocore Plc and BasWare Corporation have today signed a letter of intent of operator and product development co-operation. Iocore starts operating BasWare's myeflow.com electronic invoice and myeflow.com Internet site. In addition, BasWare and Iocore begin OEM product development co-operation that aims to integrate BasWare's myeflow and Iocore's ECGate products and their product development. Co-operation will result in a myeflow.com electronic invoicing product. In other respects ECGate's product development and selling continues as before. The agreement includes internationalization of the product and offering it to third parties. The signed agreement strengthens BasWare's position in the electronic invoicing markets. Year 2001 is expected to be the break-through year for electronic invoicing in Finland and BasWare's goal is to be the market leader with myeflow.com electronic invoicing service. As far as business operations are concerned, myeflow product development co-operation is a strategically new approach for the company. The co-operation offers Iocore a new and strong OEM sales channel and being the operator further strengthens Iocore's ASP business operations. Furthermore, co-operation with BasWare supports Iocore's internationalization strategy and strengthens the significant position of the ECGate product family in both domestic and foreign markets. Iocore Plc is a rapidly growing, profitable IT service and software provider that offers system integration and expert services as well as e- commerce software products. The group's pro forma turnover for the financial year ending in September 2000 was EUR 9.4 million and profit before depreciation of goodwill and taxed amounted to EUR 2.1 million. BasWare Corporation is a profitably growing international software vendor, which develops, markets and sells software that supports e-Business and financial control. The group has subsidiaries in Sweden, Germany, Great Britain and the Netherlands. In 1999 BasWare's net sales were EUR 4.5 million and in January-September 2000 net sales grew 76%. The personnel number is over 100. For further information, please contact: CEO Hannu Vaajoensuu, BasWare Corporation, tel. +358 9 8791 7250, or +358 40 501 8250, e-mail: hannu.vaajoensuu@basware.com CEO Kari Partanen, Iocore Plc, tel. +358 9 4152 2500, e-mail: kari.partanen@iocore.fi Iocore Plc Kari Partanen Distribution: HEX Helsinki Exchanges Principal media ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/01/22/20010122BIT00050/bit0001.doc http://www.bit.se/bitonline/2001/01/22/20010122BIT00050/bit0002.pdf