MALMO, Sweden, Jan. 31, 2003 (PRIMEZONE) -- Telelogic (Stockholm:TLOG) (Other OTC:TGIAF), the leading global provider of solutions for advanced systems and software development, today announced that a leading European telecom vendor has renewed a maintenance agreement for Telelogic Synergy licenses for the year 2003. The customer is a large user of Telelogic's advanced configuration and change management tools, Synergy. The agreement is worth EUR666,000 for the one-year period.
"Maintenance today accounts for more than 30% of Telelogic's total revenues, having been at a stable level for the last year. By being able to maintain this level in the current market climate we get a predictable base of recurring revenues, thus increasing visibility."
Maintenance agreements are typically signed by the customer in connection with the purchase of licenses for Telelogic's various development tools. The agreements are normally signed for one-year at a time, and are renewed on a yearly basis. The maintenance agreement gives the customer access to product support services as well as basic upgrades of the tools licenses during the maintenance period.
About Telelogic
Founded in 1983, Telelogic(R) is the leading global provider of solutions for advanced systems and software development. The company's integrated best-in-class software tools, supported by professional services, enable companies to automate their entire development lifecycle, resulting in improved quality and predictability with reduced time-to-market and overall costs. To ensure interoperability with third-party tools, Telelogic's products are built on an open architecture and standardized languages. As an industry leader and technology visionary, Telelogic is actively involved in shaping the future of advanced systems and software development by participating in industry organizations like 3GPP, ETSI, INCOSE, ITU-T, MOST, OMG and others.
Headquartered in Malmo, Sweden with U.S. headquarters in Irvine, California, Telelogic has approximately 800 employees worldwide. Customers include Alcatel, BAE SYSTEMS, BMW, Boeing, DaimlerChrysler, Deutsche Bank, Ericsson, General Motors, Lockheed Martin, Motorola, NEC, Nokia, Philips, Siemens and Thales. For more information, please visit www.telelogic.com
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