VendTek Systems signs licensing agreement in Malaysia

World IT Report, Jun 9, 2004

VendTek Systems Inc., a leading provider of software forprepaid service distribution, announced that it has signed a licensing agreement in Malaysia. Under the terms of the license agreement the customer will use VendTek's e-Fresh(TM) software for the development andoperation of an electronic distribution network in Malaysia. VendTek will provide software licensing, management consulting, engineering, software and technical support and will receive ongoing compensation including transaction based license fees. The customer has also purchased an e-Fresh(TM) configured server cluster from VendTek, which will be used to launch e-Fresh(TM) in Julyof this year.

The customer's business provides solution services for prepaid products in telecommunications, energy and the financial sector. The customer plans to use VendTek's expertise, software, and other intellectual property for thepurpose of developing an electronic distribution business in Malaysia.

"We are very pleased to be expanding into new areas in Asia. Our entry into Malaysia demonstrates the ongoing success of our strategy. With VendTek's expertise and technology our customer and their customers in telecommunications and the financial sector will benefit from the e-Fresh(TM) electronic delivery. Our customer in Malaysia is investing in the development of the network and in turn VendTek creates an additional source of transactionbased license revenues," said Paul Brock, president of VendTek Systems Inc.