MALMO, Sweden, March 29, 2004 (PRIMEZONE) -- Telelogic (Stockholm Exchange:TLOG), the leading global provider of solutions for advanced systems and software development, today announced that it has signed an agreement with one of Europe's leading providers of space applications, satellites, science and navigation systems. The contract, worth Eur 1.2 millions, is a four year rental model including licenses for Telelogic DOORS, Telelogic TAU Generation2 and Telelogic TAU Logiscope.
"Telelogic are pleased to be helping the customer meet their development objectives in a market environment where time to market and product reliability are critical", said Anders Lidbeck, President and CEO of Telelogic. "We are seeing the demand for flexible licensing models increasing continuously within our customer base. The benefits are obvious, the customer can scale up the usage when needed and the potential for add-on sales is greater. From a financial perspective, Telelogic is gaining a solid revenue stream and a better visibility when predicting future sales".
About Telelogic
Founded in 1983, Telelogic(R) is a leading global provider of solutions for advanced systems and software development. Telelogic's intuitive, best-in-class software tools automate and support best practices throughout the application development lifecycle, leaving development teams free to concentrate on core competencies and apply their skills and energy to value-added tasks. By optimizing each phase of development, Telelogic enables companies to deliver higher quality systems and software with greater predictability, reduced time-to-market and lower overall costs.
To ensure interoperability with third-party tools, Telelogic's products are built on an open architecture and standardized languages. As an industry leader and technology visionary, Telelogic is actively involved in shaping the future of advanced systems and software development by participating in industry organizations like ETSI, INCOSE, ITU-T, OMG and others.
Headquartered in Malmo, Sweden with U.S. headquarters in Irvine, California, Telelogic has operations in 17 countries worldwide. Customers include Alcatel, BAE SYSTEMS, BMW, Boeing, DaimlerChrysler, Deutsche Bank, Ericsson, General Motors, Lockheed Martin, Motorola, NEC, Nokia, Philips, Siemens, Thales and Vodafone. For more information, please visit www.telelogic.com
Contacts: Catharina Paulcen VP Corporate Communications Phone: +46 40 174730
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