MXL LIMITED. 2002-10-11 ASX-SIGNAL-G
HOMEX - Sydney
+++++++++++++++++++++++++
MXL has signed a non-exclusive agreement with Atlantic Computing
Systems UK Ltd for the distribution of MXL's eMinerva into the United
Kingdom. Atlantic Computing UK was founded in 1999 and has built a
strong business selling and supporting software into the government
and corporate sectors. Atlantic Computing UK is part of the Atlantic
Computing Group with offices in North and South America. Atlantic
Computing UK also has an extensive network of associates throughout
the European Community and proposes to use that to penetrate other
markets.
Atlantic Computing UK has agreed to achieve sales of 50 licenses or
50,000 enrolments in the first year of the contract. If achieved
license fee revenues will be $1m with enrolment revenues of $1m.
Ongoing performance of this order will see a total of $6m in revenues
over 3 years. However, the size of the market both in the UK and
adjoining countries suggest these projections may be conservative.
Atlantic Computing UK staff arrive in Australia in early November
2002 to undertake training on eMinerva.
The parent of Atlantic Computing UK Ltd, the United States based
organization Acacia Enterprises Inc was founded in 1984. Acacia
Enterprises will extend the distribution agreement to include the
Eastern seaboard of the United States early in 2003. Work has already
begun there in promoting eMinerva to a number of tertiary
institutions.
R Clements
CEO
MXL
mxl limited.
