Omtool Announces OEM Agreement with Xerox27 Jul, 2004
Omtool Announces OEM Agreement with Xerox
Omtool, a provider of electronic business document exchange systems and software, has come to an agreement with Xerox Corporation under which Xerox will sell and support a new OEM version of Omtool's AccuRoute 2.0 product under Xerox's private label. This agreement complements the previous distribution agreements between Xerox and Omtool covering other Omtool products including newly added upgrade offerings which allow customers of the OEM version to upgrade to the full version of AccuRoute 2.0.
"We are very pleased to expand our business relationship with Xerox. Omtool and Xerox have had a successful relationship over the last few years and this agreement builds on that success," said Robert Voelk, Omtool's CEO. Mr. Voelk added, "Omtool has been focused on expanding our distribution channels since the release of AccuRoute 2.0 in January. We recognized early that to realize the full potential of this exciting product we needed the support of strong partners who sell into many markets. As a leader in both document technologies and office equipment systems, Xerox continues to be one of Omtool's most important partners."
Although detailed terms of the OEM agreement were not released, the Company indicated that revenue from the agreement will be recognized over the term of the agreement, as product is shipped to Xerox, and while having some impact during the later half of 2004 is expected to be more significant in 2005 and beyond.
AccuRoute 2.0, Omtool's advanced document delivery system, provides an "out of the box" solution for the standardized routing, archiving and management of documents, either in paper or electronic form. AccuRoute integrates all scan enabled devices, as well as corporate email, enterprise application systems and fax systems, into a unified document workflow infrastructure giving the product a competitive edge. The OEM version, designed to provide a limited subset of AccuRoute functionality, is intended to be bundled with the distribution of Multi-Function Devices.
Omtool can be contacted at 800-886-7845 or http://www.omtool.com.