COR AG Financial Technologies
COR AG Financial Technologies: COR succeeds in entering the Dutch market
COR AG Financial Technologies / Contract Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- COR succeeds in entering the Dutch market (Leinfelden-Echterdingen, 30 March 2009) - COR AG Financial Technologies were awarded a major contract with Dutch insurance company DBV Levensverzekeringsmaatschappij N.V., Zeist, to migrate the policies in the life assurance sector to the latest SOA version of the COR-Life standard software. COR has thus managed to enter the market in the Netherlands as planned. The contract is worth around 2.7 million euros. Remuneration for the policy management will be effected according to a pricing model based on the managed policy portfolio. The policy management will be outsourced to Uniserv Outsourcing B.V., Lelystad, of which COR will be a majority stakeholder with 51 per cent as of 1 April 2009. The purchase price of this stake was in the lower seven-figure range. Uniserv Outsourcing B.V., of which DBV Holding N.V., parent company of DBV Levensverzekeringsmaatschappij N.V., currently owns 47 per cent, has implemented its existing USL software solution at DBV Holding N.V. as well as in the systems of other clients in the Netherlands. The solution implemented so far is now coming up against limiting factors with regard to the quantitative volume and professional capacities. With this contract, COR gains a reference client for large-scale policy-portfolio management in the outsourcing sector. Issuing party: COR AG Financial Technologies Karlsruher Straße 3 70771 Leinfelden-Echterdingen WKN 508320, ISIN DE0005083208 Stock exchange centres: Regulated market in Frankfurt (Prime Standard); Open market in Berlin, Dusseldorf, Hamburg, Stuttgart Contact: COR AG Financial Technologies Investor relations Karlsruher Straße 3 70771 Leinfelden-Echterdingen Tel.: +49 711 94958-0 E-mail: ir@corag.de Internet: http://www.corag.de 30.03.2009 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: COR AG Financial Technologies Karlsruher Straße 3 70771 Leinfelden-Echterdingen Deutschland Phone: +49(0)711-94958-0 Fax: +49-(0)711-94958-49 E-mail: ir@corag.de Internet: www.corag.de ISIN: DE0005083208 WKN: 508320 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Stuttgart, Hamburg, Düsseldorf End of News DGAP News-Service ---------------------------------------------------------------------------
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