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Message: Announces New Software Sales Contract
| January 28, 2009 |
| Acceleware Announces New Software Sales Contract |
| CALGARY, ALBERTA--(Marketwire - Jan. 28, 2009) - Acceleware Corp. (TSX VENTURE:AXE) is pleased to announce that is has entered into a multi-part agreement (the "Sale Agreement") to sell certain application-specific software assets, provide a non-exclusive license for additional software components and provide services for the software assets. The Sale Agreement (which is denominated in US dollars) is valued at approximately $1,108,000 Cdn. The Sale Agreement is comprised of an up-front cash payment of approximately $847,000 Cdn. upon signing, plus a further payment of approximately $182,000 Cdn. upon final delivery by Acceleware of the completed software. The Sale Agreement also outlines an ongoing services relationship with the purchaser that has a minimum value of approximately $79,000 Cdn. in 2009. The purchaser of these Acceleware assets and services is a leading vendor in the engineering software market. The software assets being sold relate to a single application within the much broader suite of software-based solutions provided by Acceleware's main software division. Upon completion of this Sale Agreement, there will be no further product revenues to Acceleware for this particular application from the purchaser. "This contract is a strong third-party endorsement of Acceleware's software-based acceleration solutions for leading-edge applications in the high performance computing market." said Michal Okoniewski, Interim President and CEO. "It also strengthens our relationship with this purchaser/vendor for future product lines and applications of software-based solutions that Acceleware is developing." |
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