Norwood, MA (January 22, 2001) —Open Channel Solutions, Inc. today announced that is has spun out of Modus Media, Inc. (MMI) and is no an independent corporation. The spin-off became effective as of December 31, 2000. Per the terms of the transaction, MMI maintains a minority equity investment in the new corporation.
“The spin off allows OCS to focus 100% on building software and services that address the evolving needs of publishers, channel partners, and users of licensed intellectual property,” said Ed Rose, President and CEO, OCS. “As a separate company we can create a culture that accelerates our growth and development. We are excited about moving forward as an independent corporation and we strongly believe that our products and services address a critical business need for companies in the software industry,” continued Mr. Rose.
Added Terry Leahy, CEO of MMI, “With this transaction, MMI can focus on its core business of supply chain management services for leading technology companies. As a standalone company, OCS is well-positioned to build upon its ASP-based business model and Poetic™ License technology.”
OCS provides a wide variety of services that make it easy for clients to design, manage and implement complex software licensing programs using state-of-the-art technology. In the last year alone, OCS technology and services have enabled the delivery of client software valued over $1 billion. OCS supports its products and services in its four customer care centers located in Lindon, UT, USA; Apeldoorn, The Netherlands; Tokyo, Japan; and Sydney, Australia.
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ABOUT OPEN CHANNEL SOLUTIONS
Open Channel Solutions is 100% focused on the business of software licensing. Our products and services, featuring Password Delivery System (PDS) and Poetic™ License, enable intellectual property publishers to unlock the power of the Internet and manage all facets of their licensing programs. With headquarters in Norwood, MA (USA) and operations in North America, Europe and Asia Pacific, OCS offers a wide array of solutions that make it easy for clients to design, manage and implement complex licensing programs using state-of-the-art technology. For more information, please contact Jim Werner, at (781) 628-0348 or visit us at http://www.ocs.com.
Open Channel Solutions and Poetic are registered trademarks of Open Channel Solutions, Inc.®
Contact:
Jim Werner
Open Channel Solutions
(781) 628-0348
jim_werner@ocs.com
