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Midas Offers Golden Touch with Prophecy
Released 22 June 2000

ASX-listed software multinational Prophecy International has signed a multi-million dollar distribution agreement with leading British provider of Internet-delivered application services, Midas IT Services.

Focusing on the construction, property management and insurance industries, Midas IT Services expects to generate several million dollars worth of sales from the ProphecyOpen software by 2002, through Application Service Provider (ASP) services.

An ASP is an organisation that hosts sophisticated software applications on its own computers, providing fee-based customer access via private lines or the Internet.

Midas IT Services director Andy Rendell said Prophecy's market-leading software was an obvious choice for Midas IT to offer excellent levels of ASP services.

"As more companies in the UK adopt and fine tune their e-commerce offerings, it is important to be able to offer them the very best service," he said.

"Midas IT Services chose Prophecy because its key ERP (Enterprise Resource Planning) functionality has tremendous flexibility which makes it ideal to supply to small to medium enterprises under an ASP arrangement. This agreement ensures our customers have the best software offering possible, which in turn will ensure their businesses will work more efficiently."

Prophecy International markets its ProphecyOpen object-oriented software through a global distribution network that reaches more than 20 countries. Prophecy's software is installed at more than 850 sites globally.

Founded in 1995, Midas IT Services is a $25 million turnover company that employs more than 100 staff. Clients include Lend Lease, Toyota, Barclays, Ernst & Young, Jones Lang LaSalle, Balfour Beatty, UK Ministry of Defence and Cornhill Insurance.

Midas is an industry leader housing one of the largest IBM AS/400, RS/6000 and NT Server installations in the UK. It provides consultancy and packaged solutions through to application design and development, systems integration, and infrastructure management. As well as Prophecy, Midas IT Services has partnerships with IBM, Oracle and Ericsson.

Prophecy International Executive Director Alan Greig said the appointment of Midas IT Services clearly demonstrated the value of ProphecyOpen to the new economy.

"With Dataquest predicting the ASP market will grow to more than $4 billion by 2002, partners such as Midas IT Services will provide important new revenue streams for Prophecy," he said.


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