Ness Technologies Signs $30 Million Technology Transfer DealOctober 19, 2006
The agreement transfers technology and international distribution rights for the intelligence system to an international homeland security company.
HACKENSACK, NJ /PRNewswire-FirstCall/ -- Ness Technologies Inc., a global provider of IT services and solutions, announced it has signed an agreement to transfer technology and international distribution rights for a unique intelligence system to an international homeland security company. Ness will have a first refusal right to offer implementation services for the intelligence system worldwide. In addition, the parties signed the first such deal to implement a project based on the intelligence system for a customer of the international homeland security company. The total initial value of the deal is $30 million in license and services revenue over the next three years.
The intelligence system developed by Ness supports intelligence officers by turning large amounts of raw information into actionable knowledge. The system enables comprehensive and effective intelligence processing, intelligence management, and dissemination. It also helps prepare strategic assessments, intelligence alerts, and intelligence briefs, which can be shared electronically by the relevant officials. The intelligence system is designed for law enforcement agencies involved in crime fighting and homeland security, and it can be customized as well for private organizations and other governmental agencies.
The intelligence system's capabilities can be extended through the use of another Ness software product, also included in the first deal, that combines information acquired in real time (and near–real time) from sensors and systems, as well as analyzed intelligence data, to construct situational awareness pictures. Ness will continue to develop and license this software product to new customers globally.
"The transaction will help leverage the value of our unique intelligence products around the world," said Raviv Zoller, president and CEO of Ness Technologies. "Ness has developed a wide range of excellent technologies, products, and capabilities, and we believe that the current transaction is an opportunity to offer the competitive advantage of a portion of the unique products and capabilities of our Technologies and Systems Group (TSG) to a wide range of global customers, through the reach of the international homeland security company with whom we are partnering, with fast time to market."
"The intelligence system, which we have developed over the past 5 years, and other unique technologies developed by Ness, provide a large spectrum of intelligence capabilities to intelligence units and organizations," said Michael Zinderman, president of Ness TSG. "These proven capabilities assist intelligence personnel in collecting and analyzing vital information and data relating to varied intelligence activities, helping them cope effectively with their complex tasks."
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