Hamilton-based WEL technology has licensed its complex billing solution software to the US telecommunications giant Lucent in a $1.33 million deal.
Rob Levison, executive director of WEL's owner, the NZSE-listed Spectrum Resources, is touting the deal as a vindication of Spectrum's business model, "whereby market dominating vertical software companies are scaled into larger markets like the United States, attracting the attention of companies like Lucent."
Contact energy deployed WEL's PV2 customer management software in March last year, and the company also has a joint venture in the currently deregulating Canadian electricity market, but the Lucent licence is the first outside the utility area.
"This marks the start of a whole new business sector for WEL Technology," says Levison. "It also signals the launch of a cooperative understanding between WEL Technology and Lucent.
WEL caught the attention of Lucent while exhibiting at a US trade show. PV2 is to be integrated into Lucent's flagship billing product, Arbor/BP.