TORONTO, Jan. 14 /PRNewswire-FirstCall/ -- Xenos Group today announced the signing of a three-year license renewal for its Xenos infoWEB(TM) product with its largest customer, a major international consumer products company.
The contract is valued at a minimum of U.S $4,000,000 spread equally over the next thirty-six months. This represents a 30% increase in the value of the contract over the previous three year term.
The customer uses Xenos infoWEB internally to store and deliver over 2.5 billion pages of internal reports annually in electronic formats. Along with the multi-channel delivery of these reports, Xenos infoWEB is also used for the online presentment of business-critical information such as invoices, statements, debits, credits, rebate invoice detail, bid award notifications and contract notifications to end consumers and business partners.
"This ongoing contract is particularly gratifying in that it represents Xenos technologies being utilized to create the virtually paperless office in a very challenging and disparate business environment. The increase in license and managed services revenues reflects the increased usage of infoWEB by the customer and the contract contemplates continued growth in usage and Xenos revenues during its term," said Stuart Butts, Chairman & CEO of Xenos.
About Xenos
Xenos (TSX:XNS) high-performance software solutions streamline enterprise information supply chains. We enable our customers to process, transform, repurpose, personalize and deliver their data and documents when they need it, where they need it and how they need it. Xenos extends the value of existing IT investments, enabling organizations to increase efficiency, agility and accountability.
By streamlining, standardizing and automating the handling of information on demand, our customers reduce costs while increasing a powerful competitive advantage-adaptability. Xenos has customers worldwide in financial services, insurance, healthcare, telecommunications, manufacturing, logistics, transportation, retail and government sectors. Xenos sells and supports its solutions directly from offices in Canada, the United States, the United Kingdom and France and through a global partner network. For more information, visit http://www.xenos.com/
