The companies set up a European-wide technology and sales alliance.
Intelligent document recognition solutions developer Top Image Systems Ltd. (Nasdaq: TISA; TASE:TISA) has teamed up with Sweden's Medius AB to establish a European-wide technology and sales alliance. Medius is a Microsoft Gold Certified Partner full-service provider of process-related IT support systems. Top Image did not disclose the size of the deal.
Top Image will supply its eFLOW solution for automated data capture with Medius's workflow product, MediusFlow, which captures and manages financial information for enterprise resource planning (ERP) systems.
Top Image CEO Dr. Ido Schechter said, "Our focused partnership with Medius strengthens Top Image's offering in the accounts payable segment and better positions us within the European marketplace. We view Medius as an extension of our own business and will work closely to continue to provide our customers with superior quality and functionality."
Top Image's share closed at $0.78 on Nasdaq yesterday. The share was unchanged in morning trading on the TASE at NIS 4.70
Published by Globes [online], Israel business news - www.globes-online.com - on November 26, 2008
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