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| Subject: Thanks for the tip Hahaha--yes the end to ERG joint ventures | |
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Author: 47.1% equity owned PCL--just short of ownership |
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Date Posted: 01:28:59 01/09/03 Thu ERG Ltd (ERG) - UK Smart Card Joint Venture; SEMA Alliance; Greater Manchester Passenger Transport Executive Contracts September 23, 1999 ERG has made a series of announcements, the first an agreement reached with Stagecoach Holdings plc and Sema Group plc to establish a joint venture company using Prepayment Cards Ltd (PCL) as the vehicle. PCL has the exclusive licence in the UK to ERG's advanced central computer smart card software technology and will provide card issuing and processing capability for the transit sector across the UK and for issuers of multi-application cards. PCL has also taken an option, expected to be exercised in the next 6 months, for a Proton World multi-application smart card technology licence for the UK. The joint venture in the UK is similar to the proposed joint venture recently announced between ERG, Telstra and ANZ Bank in Australia. It will meet the UK Government's objectives for integrated transport in the UK and be able to meet the objectives of all transport operators in the UK for smart card technology. ERG also announced that as part of establishing the joint venture, it has formalised an alliance with Sema Group pld, one of the world's largest IT and systems integration organisations, and has done extensive due diligence on ERG's smart card software technology. Sema will support ERG activities in the UK and act as a preferred supplier to PCL. It will also provide resources to PCL. The alliance, together with ERG's current alliance with Motorola, will ensure that ERG has the resource backing required to meet smart card roll-outs planned for the UK. The first major contract PCL will implement is the GMPTE Concessionary Fare Scheme which is set to be the first large scale roll-out of smart card in the UK. GMPTE's original plan entered into in 1993 with a subsidiary of PCL was delayed due to the intervening privatisation of the bus transport network in Manchester. The contract, worth approximately A$45 million over 8 years will see ERG enter a broader alliance with Stagecoach which will eventuate in PCL providing smart card technology across the Stagecoach network in the UK. ERG will derive revenue and profit from licence fees, software maintenance, equipment supply and its ongoing participation and sell down of equity. [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| Subject | Author | Date |
| Re:It is tempting to go into nerd hyperdrive brain overload on PCL | I wonder if Stagecoach are in Hawaii? | 01:45:23 01/09/03 Thu |
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