Imation Europe to Distribute Cenosis Products in Five Year Agreement
Press release from the issuing company
Montreal, May 10, 2001 - Cenosis Inc. (ME : CE) is pleased to announce a five-year agreement with Imation Europe B.V., a subsidiary of Imation Corporation (NYSE : IMN). Under the terms of the OEM arrangement, Imation Europe will distribute throughout the European Union and other Central European countries the first Cenosis product aimed specifically at the communications market in Europe.
The product, developed by Cenosis' KangaCom subsidiary, will be named Imation ExpressWeb powered by KangaCom. It will combine KangaCom's digital file transfer knowhow with Imation's prepress management software to provide the industry with state of the art graphic content capture, previewing and transport functions over the Internet.
Cenosis will be responsible for all technical support and product development, while Imation will leverage the penetration of its various local European subsidiaries to distribute the product in more than twenty countries. Imation ExpressWeb powered by KangaCom will be launched at the TPG 2001 Technologies for Printing trade show in Paris on May 14th.
"This agreement marks Cenosis' first major offensive in distributing its successful KangaCom solutions outside North America and respects our business plan's commitment and timetable to penetrate the huge potential graphic communications market Europe represents. Furthermore, we could not have chosen a more strategic partner than Imation, the world leader in proofing technologies with a physical presence in virtually every major European country," said Richard Corbo, President and Chief Executive Officer of Cenosis. "We are convinced this OEM deal will kick start our European sales much more rapidly and at much lower cost than virtually any other market approach."
"Imation ExpressWeb powered by KangaCom represents an important missing link in allowing our customer base to fully exploit Imation's prepress and digital asset management solutions by making use of one of the most powerful telecommunications tools developed specifically for this industry by Cenosis," stated Jean-Marc Laigle, Managing Director of Imation Color Technologies - Europe. "We are pleased with this new relationship and look forward to expanding its mutual benefits."
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