Parity Group PLC
16 March 2000
Parity to create e-commerce infrastructure for Tarsus Group
Contract to build web portals for five business sectors
Parity Group plc, the e-business and software services group, has been awarded
a contract by Tarsus Group, the internet-led media group, to build an internet
portal for each of its five key business sectors. The project, which will be
carried out by Parity Solutions' web design team, is intended to enable Tarsus
to reach new markets and transact business over the internet.
In addition to receiving a contracted fee of £200,000 for developing the
sites, Parity has entered into an agreement with Tarsus under which it will
receive a share of the e-commerce revenues generated. Under this arrangement,
Parity will receive a maximum total consideration of £850,000.
Commenting on the contract, Keith Jennings, Managing Director of Parity
Solutions, said, 'This is the first of a number of similar contracts we are
developing, in which Parity will receive a fee to cover development work plus
additional ongoing payments based on e-commerce revenues generated for our
clients. It is another example of the initiatives we are taking to generate
new revenue streams outside of our traditional time and materials business.'
For further information:
Parity Group plc 0207 776 0800
Michael Harrington
Financial Dynamics 0207 831 3113
Giles Sanderson/Jon Earl
Note to editors:
Parity Group plc is an e-business and software services group with over 40
offices in the UK, mainland Europe and the USA. In the last year, Parity
Solutions has become a leading supplier of e-business solutions, a position
reinforced recently with the acquisition of Interactive Developments, TMS and
Comtec. Within the last month, Parity has also announced new ASP partnerships
with Infobank and edocs to develop on-line procurement and billing systems,
targetted initially at the utilities sector.
Tarsus provides business media including exhibitions, conferences and
publishing for the printing, food, marketing, education & training and
clothing sectors. The development of the new web infrastructure for these
communities will enable Tarsus to offer its existing and new customers a range
of business-to-business e-commerce services and content, enabling them to
reach new markets and transact business over the internet.
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