In line with its June 2001 statement of intent to focus its energies on core products and services directly associated with secure electronic payments, Prism Holdings has mothballed its Eclipse e-procurement product.
Duncan Todd, Corporate Strategy Director for Prism says Prism`s motivation in the development and release of Eclipse v1.1 was to harness a potential revenue stream generated by the transactions between businesses utilising Eclipse to trade securely with each other.
"Although the product received excellent technical reviews from procurement specialists, we have not identified a suitable partner in the e-procurement arena with the ability to deliver such a sophisticated procurement product to market in the short-term.
"This was the first time Prism engaged in speculative product development. With market sentiment turning strongly from continued investment in projects that may only deliver income in the future, Prism has reluctantly taken the difficult decision to close down the Eclipse project and disband its team of truly outstanding developers."
Prism retains its shareholding in UK-based procurement consultancy SJF Limited, with which it embarked on development of Eclipse as a joint venture prior to acquiring 100% of the company last October. Revenues generated by SJFL`s consultancy operations funded Eclipse`s development. The latest move regarding Eclipse will therefore be cash neutral for Prism.
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