Management Technologies Inc. Receives $300,000 Order from Union Bank of Switzerland

Strategic Insights -

Management Technologies Inc. has secured a significant order for its banking software systems from Union Bank of Switzerland (UBS). The order, which totals over $300,000, is a notable expansion of UBS's existing ABRASYS system, implemented in a newly opened branch on the Isle of Jersey. This new business win highlights the company's growing presence in the international banking software market. As stated by Anthony Cataldo, chairman and CEO of Management Technologies, the company is excited about winning this new order from UBS, a rapidly expanding international bank.

Key Takeaways:

  • Management Technologies Inc. has received an order totaling over $300,000 from Union Bank of Switzerland (UBS) for its banking software systems.
  • The order is an expansion of UBS's existing ABRASYS system, implemented in a newly opened branch on the Isle of Jersey.
  • Anthony Cataldo, chairman and CEO of Management Technologies, stated that the company is very excited about winning this new order from UBS, a rapidly expanding international bank.
  • Since the Winter Partners acquisition on July 15, Management Technologies has received new orders totaling over $10.5 million.
  • The company's revenue over the entire last fiscal year was $2.3 million, indicating significant growth.
  • Management Technologies is a world-wide leader and innovator in bank integration software, with an estimated total industry-wide market of over $13 billion in 1994.
  • The company's extensive international customer base includes banks such as ABN-AMRO, Bank Julius Baer, UBS, Chemical Bank, and Merrill Lynch International Bank.
  • Management Technologies is on target for its profitability projections for the current fiscal year, with the results of its second quarter ending October 31 expected to reflect this growth.

Statistics:

  • The total value of the order from Union Bank of Switzerland (UBS) is over $300,000.
  • Since the Winter Partners acquisition on July 15, Management Technologies has received new orders totaling over $10.5 million.
  • The company's revenue over the entire last fiscal year was $2.3 million.
  • The estimated total industry-wide market for bank integration software in 1994 is over $13 billion.
  • Management Technologies has an extensive international customer base, including banks such as ABN-AMRO, Bank Julius Baer, UBS, Chemical Bank, and Merrill Lynch International Bank.

Sources:

  • BUSINESS WIRE, Nov. 10, 1994
  • Management Technologies Inc., press release, Nov. 10, 1994
  • Industry reports and data, 1994