| Press release |
RADVIEW SOFTWARE COMPLETES $1,000,000 TECHNOLOGY LICENSE
TRANSACTION WITH AN OEM PARTNER
BURLINGTON, MA - July 7, 2004 - RadView™ Software Ltd. (Nasdaq: RDVW), a
leading provider of solutions for verifying the performance, scalability and
integrity of business-critical Web applications announced it has completed a
$1,000,000 technology license transaction with an OEM partner.
Under the terms of the amended OEM agreement, RadView received a fee of
$1,000,000 for a technology license to use WebLOAD, RadView’s flagship
load-testing product, as a result of the exercise of an option by this OEM
partner. RadView will also be entitled to receive royalties at a reduced
percentage rate for a period of 12 months following the exercise of this option
or, at the election of the OEM partner, as a single lump-sum payment to RadView
in the amount of $250,000 in settlement of such royalty obligation.
"This technology license is a testament to the quality of our software and our
ability to work with vendors to deliver a solution of value to their
customers," said Ilan Kinreich, president and CEO of RadView. "This transaction
will positively contribute to our revenues over the next year, and is a
demonstration of our ability to expand our relationships with channel partners,
which is a key part of RadView’s operating plan."
RadView is obligated to provide product updates and technical and engineering
support for 12 months following the payment of the technology license fee.
RadView expects to account for the technology license fee as a subscription
arrangement and will recognize this revenue over the next 12 months. If the OEM
partner elects to make the $250,000 payment in lieu of its reduced royalty
obligation, then this amount would also be recognized as revenue over the next
12 months.
About RadView Software Ltd.
RadView™ Software Ltd. (Nasdaq: RDVW) is a leading provider of solutions for
verifying the performance, scalability and integrity of business-critical Web
applications. Deployed at over 1,450 customers worldwide from major industries
such as financial services, retail, manufacturing, education and technology,
RadView's award winning products enable customers to reduce costs while
improving the quality of their Web applications throughout the development
lifecycle. Corporate offices are located in Burlington, MA. For more
information visit www.radview.com or call 1-888-RADVIEW.
Media Contacts
Beth Clark
RadView Software
781-238-1133
bclark@radview.com
Statements concerning RadView's business outlook or future performance;
anticipated revenues, expenses or other financial items; product introductions
and plans and objectives related thereto; and statements concerning assumptions
made or expectations as to any future events, conditions, performance or other
matters, are "forward-looking statements" as that term is defined under U.S.
Federal securities laws. Forward-looking statements are subject to various
risks, uncertainties and other factors that could cause actual results to
differ materially from those stated in such statements. These risks,
uncertainties and factors include, but are not limited to: our limited
operating history and history of losses; market acceptance of our products;
ability to develop new products and enhance existing products; impact of
significant competition; and other factors detailed in RadView's filings with
the Securities and Exchange Commission. RadView assumes no obligation to update
the information in this release. RadView, WebLOAD, WebRM, WebLOAD Analyzer and
WebFT are trademarks of RadView Software Ltd. Other names may be trademarks of
their respective owners.
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