Business
Sylogist Ltd. announces technology agreement
/THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATI...
About this update from Sylogist Ltd.
[{"type":"text","content":"\n\n\n\n/THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE\nSERVICES OR FOR DISSEMINATION IN THE UNITED STATES./\n\n\nCALGARY and EDMONTON, Dec. 11 /CNW/ - Sylogist Ltd. (TSXV: SYZ)\n("Sylogist") is pleased to announce that it has entered into an amended\nexclusive license for the foundation software of its Bellamy Software suite of\napplications, for a one-time fee. The original perpetual license agreement\nSylogist acquired in the purchase of Bellamy Software in 2006, contained\nroyalties in favor of the licensor for customer licensing, maintenance and\nsupport, with significant annual, minimum payments required to maintain\nterritorial exclusivity. These ongoing royalties and minimum payment\nthresholds have been eliminated effective immediately while retaining the\nterritorial exclusivity.\n\n\n"Bellamy Software applications are chosen by municipalities and school\nboards, for their reliability and functionality, including customer support\nadvantages, as well as ongoing enhancements we have and are investing in. This\narrangement provides us with the platform stability and certainty we and our\ncustomers require so we may invest to fulfill the significant customer and\nproduct growth ahead of us" stated Jim Wilson, President & Chief Executive\nOfficer.\n\n\nAbout Sylogist\n--------------\n\n\nSylogist provides hosted and customer installed leading enterprise\ninformation management software applications to municipal, education and\nprivate sector customers. Our integrated suite of business applications for\nmunicipalities fulfills the needs for revenue, finance and operations\nmanagement capabilities. Our education applications provide financial, student\ninformation and collaborative web-based systems for the K-12 market.\n\n\nSylogist's stock is traded on the TSX Venture Exchange under the symbol\nSYZ. Information about Sylogist can be found at http://www.sylogist.com or on\nSylogist's profile on SEDAR.\n\n\nForward-looking Statements\n--------------------------\n\n\nThis press release contains statements about expected or anticipated\nfuture events and financial results that are forward-looking in nature and, as\na result, are subject to certain risks and uncertainties, such as general\neconomic, market and business conditions, the regulatory process and actions,\ntechnical issu...