December 28, 2007 - Chordiant Software, Inc., a provider of customer experience (Cx) software and services, announced that it has entered into a Global Framework Agreement with a leading telecommunications company for a record 18.1 million or approximately $26.1 million at the exchange rate when signed.
Under the terms of the agreement, Chordiant has agreed to provide perpetual enterprise licenses and support for the Decision Management and Marketing Director product suites for up to 18 group companies or subsidiaries in Europe, Asia, Africa and Australian/New Zealand. Revenue is expected to be recognized when the individual subsidiaries enter into license agreements with Chordiant, the associated amounts become due and payable, and the software is delivered to each individual Subsidiary, or at predetermined dates as specified in the agreement.
This order, in our telecommunications vertical, is the largest booking in the history of Chordiant, representing a significant win for the Company. We are very pleased with our continued ability to close significant transactions in our key targeted markets, said Steven R. Springsteel, Chairman and Chief Executive Officer.
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