TORONTO, Jan. 27, 2005 (PRIMEZONE) -- ActiveCore Technologies Inc. (OTCBB:TALL) is pleased to announce the formation of a new strategic partnership with TransTOOLs, a leading Spanish IT company. Under the terms of the agreement, ActiveCore will become the exclusive Canadian and U.K. distributor of TransTOOLs' proprietary application known as Caravel. It is anticipated that this exclusive distribution agreement will result in approximately USD $1 million -- $1.5 million in additional revenue to ActiveCore for fiscal 2005.
Caravel is a leading application for reengineering and translating systems developed under proprietary languages such as RPG and COBOL. Caravel specializes in the automatic migration of RPG and COBOL systems to Java(tm). The main benefit of the Caravel technology is that it facilitates the migration of applications from old and outdated computer systems to a new platform of choice, without having to rewrite the entire code.
Once translated into Java, there are numerous advantages in terms of robustness and flexibility. This standard allows for graphic interfaces, object-oriented programming, multi-platform, Web enabled applications and e-business components, using the most advanced technology.
This strategic partnership remains consistent with ActiveCore's business model of providing Integration and Modernization tools for companies seeking to upgrade their existing systems. ActiveCore will facilitate the growth of new business and relationships for existing and potential customers in the Canadian and U.K. markets by leveraging their outstanding reputation within their industry. As a result, ActiveCore will become the premier and exclusive supplier in these markets for TransTOOLs' services.
Yinon Feldheim, V.P of International Development commented, "ActiveCore has vast experience in large systems migrations and in the transformation of host-based applications and offers us the perfect technical partner. In this relationship, not only will ActiveCore take the lead in customer identification but will also provide local support to customers during the conversion projects and will optionally contract further development activities with the customers."
To present this new partnership to the Canadian market place, ActiveCore and TransTOOLs recently participated in "Common" (The IBM User Groups) held in Toronto, Canada, sharing an exhibition booth where demos and presentations of Caravel were made.
Both TransTOOLs and ActiveCore are confident that this new agreement will win the confidence of the iSeries users' communities in Canada and the U.K, who wish to modernize their legacy applications by migrating to the new Java technological platform.
ActiveCore's primary products are ActiveLink and Net.Visual, which allow companies to integrate disparate systems and build access to their corporate data securely using many alternate interfaces, such as .NET, Web, WAP, VB, C++, Java and many more.
This press release is available on the company's official online investor relations' site for investor commentary, feedback and questions. Investors are asked to visit http://www.agoracom.com and view the "ActiveCore" Investor Relations Hub. Alternatively, investors can e-mail AGORA Investor Relations directly at TALL@Agoracom.com.
About TransTOOLs (www.transtools.com)
TransTOOLs provides a complete range of tools and services for reengineering and translating systems developed under proprietary languages (RPG, COBOL and Visual Basic), into Java(tm). Caravel(tm) is one of these services, specialized in the automatic migration of RPG and COBOL systems to Java(tm).
About ActiveCore Technologies, Inc. (www.ActiveCore.com)
ActiveCore Technologies, Inc., formerly IVP Technology Corporation, operates a group of subsidiaries and divisions in the U.S., U.K. and Canada that offer a Smart Enterprise Suite of products and services. We integrate, enable, and extend functions performed by current and legacy IT systems and facilitate mass corporate messaging through our ActiveCast product set. Our products encompass web portals, enterprise middleware, mobile data access, data management and system migration applications. ActiveCore operates under the trade names of MDI Solutions, C Comm Networks Inc. and Twincentric Limited. ActiveCore services clients in healthcare, financial services, government and manufacturing worldwide.