Lagan Technologies, a Belfast-based software company, has signed a £10 million sterling (€16.7 million) private finance initiative with an Australian firm, ComputerFleet.
The company is also close to announcing a strategic marketing alliance with IBM. The two deals will significantly increase international awareness of Lagan's technology and should lead to higher sales next year.
ComputerFleet's investment will fund an international rental programme to distribute Lagan's customer relationship management technology.
The two companies are considering forming a joint venture UK-based company called Lagan Rentals, which would market Lagan's flagship software solution, Frontline.
ComputerFleet, an electronics leasing company, would provide the financial backing for the venture while Lagan would supply its software, according to Mr Des Speed, managing director of Lagan.
Frontline is a customer relationship management system targeted at telecommunications companies, banks, financial services firms and local governments.
"A key feature of Frontline is that it is multi-channel in that it can manage all customer enquiries on different mediums such as e-mail, telephone, digital TV and fax," says Mr Speed.
The development of the customer product has increased the quality and size of Lagan's business. This month it clinched part of a multimillion pound contract to supply customer care, order handling and billing software solutions to Guernsey Telecoms. The software reseller agreement with IBM, which is likely to be announced in the next few days, will also contribute to Lagan's international exposure. The partnership will enable IBM and Lagan to come together to supply different delivery channels to organisations.
"It is a unique agreement for companies in our product range," says Mr Speed. "Our product will now go into IBM's sales books and its sales representatives will have a strong incentive to ship the product."
Lagan Technologies was founded in 1994 as a Queens University campus company. It received almost £500,000 sterling in February this year and is close to finalising a further £2-£3 million in funding from UK venture capitalists.
The speed of Lagan's growth this year has led the company to aim for an initial public offering on the London Stock Exchange by 2002. Last week, it moved into new 10,000 sq ft offices in Belfast and plans to more than double its workforce to 100 within a year.
Lagan has also hired key staff such as Mr Speed, a founding member of Sx3, and technology guru Mr John Lillywhite as chairman. Mr Tom Montgomery, chief executive of Amacis, is a shareholder.
