BURLINGTON, Massachusetts, July 27, 2017 /PRNewswire/ -- Attunity Ltd.
(NASDAQ CM: ATTU), a leading provider of data integration and Big
Data management software solutions, announced today that it has
entered into a multi-million-dollar OEM license agreement with a
top information technology company who will incorporate Attunity
technology to facilitate and drive database and data warehouse
migrations.
"This agreement is a strategic milestone for Attunity. It
solidifies our position as an industry leader for
database and Cloud migration, and will be generating
significant recurring revenues as well as upside opportunities, and
strengthening our position as a strategic partner for this top
information technology company," explained Shimon Alon, Chairman and Chief Executive
Officer at Attunity. "During its initial three-year term, the
agreement is expected to generate $9
million with options to exceed this amount through license,
upsell and services expansions."
Under the agreement, the partner was granted with a license of
Attunity Replicate to support several data migration scenarios.
Following the initial term, the partner may extend the agreement
for up to three additional years, or convert the annual license to
perpetual for a one-time payment of $10
million (or higher if the agreement is expanded to include
additional migration scenarios).
The agreement provides additional revenue opportunities in areas
that the partner did not license under the agreement, in which case
the partner's customers may engage Attunity directly for additional
fees. In addition, the partner can expand the scope of the
agreement to include more migration scenarios for incremental
annual fees and receive additional services.
"Being selected by this partner is a testament to our leading
technology and ability to partner with industry-leading companies.
We expect that this license agreement will also provide us with
additional revenue generation opportunities to support our growth
over the next few years," concluded Mr. Alon.
Attunity is currently evaluating the accounting implications,
including revenue recognition aspects, of the agreement. Cash
consideration for the first year is due upon acceptance and then 60
days after each anniversary date thereof.
About Attunity
Attunity is a leading provider
of data integration and Big Data management software solutions that
enable availability, delivery, and, management of data across
heterogeneous enterprise platforms, organizations, and
the cloud. Our software solutions include data
replication and distribution, test data
management, change data capture (CDC), data
connectivity, enterprise file
replication (EFR), managed file
transfer (MFT), data warehouse automation, data
usage analytics, and cloud data delivery.
Attunity has supplied innovative software solutions to its
enterprise-class customers for over 20 years and has successful
deployments at thousands of organizations worldwide. Attunity
provides software directly and indirectly through a number of
partners such as Microsoft, Oracle, IBM and Hewlett Packard
Enterprise. Headquartered in Boston, Attunity serves its
customers via offices in North America, Europe,
and Asia Pacific and through a network of local partners.
For more information,
visit http://www.attunity.com or
our blog and join our communities on Twitter,
Facebook, LinkedIn and YouTube.
Important Note: The announcement of any particular
selection or implementation of Attunity products is not necessarily
indicative of the timing of recognition of revenue therefrom or the
level of revenue for any particular period.
Safe Harbor Statement
This press release
contains forward-looking statements, including statements regarding
the anticipated features and benefits of Replicate and Visibility
Solutions, within the meaning of the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995 and other
Federal Securities laws. Statements preceded by, followed by, or
that otherwise include the words "believes", "expects",
"anticipates", "intends", "estimates", "plans", and similar
expressions or future or conditional verbs such as "will",
"should", "would", "may" and "could" are generally forward-looking
in nature and not historical facts. For example, when we say that
the license agreement will be generating significant recurring
revenues as well as upside opportunities, we are using a
forward-looking statement. Because such statements deal with future
events, they are subject to various risks and uncertainties and
actual results, expressed or implied by such forward-looking
statements, could differ materially from Attunity's current
expectations. Factors that could cause or contribute to such
differences include, but are not limited to: risks and
uncertainties relating to our history of operating losses and
ability to achieve profitability; our reliance on strategic
relationships with our distributors, OEM, VAR and "go-to-market"
and other business partners, and on our other significant
customers; risks and uncertainties relating to acquisitions,
including costs and difficulties related to integration of acquired
businesses; our ability to expand our business into the SAP market
and the success of our Gold Client offering; timely availability
and customer acceptance of Attunity's new and existing products,
including Attunity Compose and Attunity Visibility; risks and
uncertainties relating to fluctuations in our quarterly operating
results, which may not necessarily be indicative of future periods;
changes in the competitive landscape, including new competitors or
the impact of competitive pricing and products; a shift in demand
for products such as Attunity's products; the impact on revenues of
economic and political uncertainties and weaknesses in various
regions of the world, including the commencement or escalation of
hostilities or acts of terrorism as well as cyber-attacks; and
other factors and risks on which Attunity may have little or no
control. This list is intended to identify only certain of the
principal factors that could cause actual results to differ. For a
more detailed description of the risks and uncertainties affecting
Attunity, reference is made to Attunity's latest Annual Report on
Form 20-F (as amended) which is on file with the Securities and
Exchange Commission (SEC) and the other risk factors discussed from
time to time by Attunity in reports filed with, or furnished to,
the SEC. Except as otherwise required by law, Attunity undertakes
no obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated
events.
© Attunity 2017. All Rights Reserved. Attunity is a registered
trademark of Attunity Inc. All other product and company names
herein may be trademarks of their respective owners.
Investor Contacts:
Garth Russell / Allison Soss
KCSA Strategic Communications
P: +1-212-682-6300
grussell@kcsa.com / asoss@kcsa.com
Dror Harel-Elkayam, CFO
Attunity Ltd.
P: +972 9-899-3000
dror.elkayam@attunity.com
Press Contact:
Melissa Kolodziej
Senior Director of Marketing Communications
Attunity
melissa.kolodziej@attunity.com
Tel. 603-305-3664
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SOURCE Attunity Ltd