Software and development deal affirms Global Technology`s skills Global Technology Limited has concluded a strategically significant, two-part deal with Temenos Holdings NV. In the latest deal, effective 1 July 2000, Global Technology, which owns a 20% shareholding in Temenos NV, becomes an official GLOBUS Development Centre, one of only four worldwide. The other three centres are all owned by Temenos, the developer of GLOBUS, the world`s top selling banking solution.
In addition, Global Technology has sold to Temenos the rights to four of its locally developed software solutions. Global Technology will receive royalties on all sales of these modules outside Africa and Australia (Global Technology`s territory), and 100% of the revenue from sales within these regions.
Ray Leonard, CEO of Global Technology Limited, says that the deal brings Global Technology one step closer to Temenos, with whom the Group already has a solid relationship. He adds, "The most exciting aspect of this deal is that it confirms the standard and quality of South African developed products. In addition, by appointing Global Technology as one of a select group of GLOBUS Development Centres worldwide, Temenos is strongly affirming Global Technology`s product development skills. Temenos will be selling the four products it has purchased from us as an integral part of its GLOBUS banking solution to clients throughout the world."
As a GLOBUS Development Centre, Global Technology will have access to GLOBUS` source code, thereby enabling it to enhance the core GLOBUS system, and to continue to develop GLOBUS-complementary modules to add to those already developed and sold to Temenos. The four modules which form part of this transaction are GLOBUS Internet Banking; GLOBUS Integrator, a module that complements and enhances the functionality of GLOBUS, through providing seamless integration to SWIFT, OFS, Reuters and ISO8583; Glosure, a short-term insurance module that will interface directly with GLOBUS; and Temenos eMerge, a software system developed and configured in South Africa, specifically for micro-finance institutions and small banks in third world economies.
Global Technology is the leading supplier of software solutions to the banking, insurance and financial communities in Africa and Australia.
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