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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report: June 15, 1999
IA Corporation I
(Exact name of registrant as specified in its charter)
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<S> <C> <C>
Delaware 00021539 94-3161772
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(State or other jurisdiction of (Commission File Number) (I.R.S. Employer Identification
incorporation) No.)
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1900 Powell Street, Suite 600
Emeryville, California 94608
(Address of principal executive offices)
(510) 450-7000
(Registrant's telephone number, including area code)
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Item 5. Other Events.
(a) On June 4, 1999, NCR and IA executed an addendum to their Global Strategic
Alliance Agreement whereby NCR exercised its prepayment right for the
previously granted archive developer's license. Under the addendum, NCR is
obligated to pay IA $6,581,837 as follows:
(i) Initial payment of $5,000,000 (received June 10, 1999)
(ii) $500,000 on June 30, 1999
(iii) $250,000 on September 30, 1999
(iv) $250,000 on December 30, 1999,
(v) $290,919 on March 30, 2000,
(vi) $290,918 on June 30,1999.
Under the addendum, IA is obligated to provide certain software and
services to NCR. IA will recognize this software license and service
revenue on the percentage-of-completion method based on the ratio of
incurred costs to total estimated costs.
Item 7. Exhibits
(c) Exhibit 1 - IA and NCR issued a joint press release dated June 14, 1999.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Name
Dated: June 15, 1999 By: /s/ Leslie J. Alvarez
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Leslie J. Alvarez
Vice President and Chief Financial Officer
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Exhibit 1
Press Announcement
FOR IMMEDIATE RELEASE
Contact:
Bill Cunningham John Hourigan
IA Corporation NCR
(510) 450-6808 (937) 445-2078
[email protected] [email protected]
NCR AND IA CORPORATION STRENGTHEN GLOBAL STRATEGIC ALLIANCE
NCR Furthers its Commitment to the ImageMark/TM/ Strategy by Leveraging the
Latest Design of IA Corporation's Checkvision Archive Platform
Emeryville, Calif., June 14, 1999 -- IA Corporation (NASDAQ:IACP), today
announced a restructuring of its global strategic alliance agreement with NCR
corporation.
Under the terms of the agreement, IA will provide NCR (NYSE: NCR) with
enhanced versions of its archive and application software products for
inclusion into NCR's ImageMark/TM/ Image Archive and Delivery (IAD) Solution.
IA, in addition to receiving royalty payments for NCR sales, will benefit from
accelerated payments from NCR for a source code developer's license. This
agreement provides NCR the ability to expedite the incorporation of NCR owned
intellectual properties into the imagemark solution as part of its plan to
image-enable the bank enterprise.
"The latest design of CheckVision, coupled with existing and forthcoming NCR
solutions, will complete our requirement to position ImageMark IAD as a
scaleable, microfilm replacement solution for medium and large banks world-
wide," said Joe Kniceley, vice president of payment solutions marketing at
NCR. "CheckVision's architectural design provides NCR with a superior archive
base platform from which to develop our own complimentary applications.
ImageMark IAD provides the cornerstone for a bank's enterprise-wide imaging
strategy and we are excited about enhancing this solution and its ability to
provide outstanding value to financial institutions worldwide."
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IA and NCR Sign New Global Strategic Alliance Agreement
2-2-2
"We are pleased to be an important part of NCR's ImageMark strategy," said
Bill Cunningham, vice president of business development at IA. "NCR's
commitment to IA's technology and global presence make them a valued
strategic alliance partner. The restructuring of our agreement builds on the
success of our alliance and leverages the strengths of both organizations
going forward."
NCR
NCR Corporation (NYSE: NCR) is in the business of transforming transactions
into relationships. NCR is a recognized world leader in data warehousing
solutions, ATMs, point-of-sale systems, high performance scanners, and
support services for retail, financial and national accounts markets. NCR's
business solutions are built on the foundation of the company's long-
established industry knowledge and consulting expertise, value-adding
software, global customer support services, a complete line of consumable
and media products, and world-leading hardware technology. More information
about NCR can be found on the World Wide Web at www.ncr.com
ImageMark/TM/ is a trademark of NCR Corporation.
IA Corporation
IA Corporation, headquartered in Emeryville, Calif., develops and delivers
software products that allow leading edge financial services organizations
to integrate the power of the internet with their network document
repositories to provide the ultimate in customer service, one-to-one
marketing and business intelligence. The company's customers include leading
organizations such as Comerica, Harris Bank, Sanwa Bank California, LTD.,
SouthTrust Bank, UMB Bank, NA, and Wachovia.
IA is located at 1900 Powell St., Emeryville, CA 94608-1840, U.S. Telephone:
510/450-7000. Fax: 510/450-7099. Email: [email protected]; Website:
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www.iacorporation.com.
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This press release contains forward looking statements, including but not
limited to, anticipated royalties and future product development and market
acceptance. Actual results may vary from anticipated results, and such
variations may be material, based on a number of factors, including the
development and customer acceptance of new applications, the ability to generate
royalties and other risk factors as described in for IA's Form 10K for the year
ended December 31, 1998 on form 10Q for the quarter ending March 31, 1999.
