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Unitime Systems acquires direct sales channel and associated intellectual property rights from Time America.
Scottsdale, AZ April 14, 2006 -- Time America, Inc. and Unitime Systems, Inc., both major providers of automated workforce management solutions, today announced they have completed a transaction whereby Time America has divested certain direct sales assets to Unitime Systems. Under the terms of the agreement, Unitime Systems acquired a portion of the Time America direct sales maintenance and hosted client base along with specific direct channel sales opportunities and associated intellectual property rights. Financial terms of the transaction were not disclosed.
The transaction affords both organizations the opportunity to focus on those things they do best. Time America will continue to build its extensive reseller network and business development channels and will also focus on key enterprise account opportunities and its data collection subsidiary, NetEdge Devices, LLC. Unitime Systems will increase its customer support base and add a proven hosted software solution to its product line. Unitime Systems' business and alliance partner channels are unaffected by the transactions.
"Unitime Systems is a respected competitor in our market. I believe this transaction is advantageous to both parties, and I see opportunity beyond the immediate benefit as the relationship matures," stated Thomas Bednarik, President and CEO of Time America.
Bill Korstad, CEO of Unitime Systems, states, "Tom and I have been friends as well as friendly competitors for years. We admire what Time America has been able to accomplish in the marketplace. This is one of those win-win deals that benefit both companies."
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