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Peerless Systems and We Software, Ltd. Announce Co-Development Agreement

19 Feb, 2002

Peerless Systems and We Software, Ltd. Announce Co-Development Agreement

Peerless Systems Corporation, a provider of printing and imaging solutions, and We Software, Ltd. (WESOFT), an embedded software engineering company located in Hong Kong, announced the signing of a Co-Development Agreement. WESOFT will act on Peerless Systems' behalf to develop products for the new, high growth business markets emerging in China and Southeast Asia.

Under the terms of the bi-lateral agreement, WESOFT will undertake development of new product programs using Peerless Systems software-based imaging and networking systems technology, including Peerless' ImageWorks(TM) delivery system. The ImageWorks(TM) architecture enables uncomplicated development and customization of product families for network and Internet-enabled imaging devices. In addition, Peerless Systems and WESOFT will collaborate on future projects that will incorporate Peerless Systems' technology in to a wide variety of products that will be made available to original equipment manufacturers (OEMs).

As projected by International Data Corporation (IDC), a leading global provider of technology forecasts, insights and advice, the Asian printer market is estimated to be worth $2.0 billion in 2005. Likewise, IDC has projected the laser printer market to grow at a rate of 10% overall, and the color laser printer market to grow at a rate of 47%, through 2005.

In 2000, Peerless Systems and WESOFT entered into a distribution arrangement, making WESOFT a worldwide non-exclusive distributor of Peerless' Software Print Server(TM) (Peerless SPS(TM)). SPS allows office equipment OEMs to embed multi-protocol print server functionality into print device products. This solution leverages the power of a single processor to offer compact, inexpensive, multi-protocol print solutions. Peerless SPS(TM) includes the Internet printing protocol (IPP) as a standard feature.

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