News & Events

FOR IMMEDIATE RELEASE: 14th February 2008

Logica and Dovetail announce payments system deal

Logica, a leading European IT and business services company, has entered into an agreement to purchase a master licence for Dovetail's payments system technology as part of the ongoing development of its Logica All Payments Solution (LAPS) High Care packaged solution.

Components from Dovetail's payments system technology have been incorporated into the LAPS/High Care offering for some time. The new licence will give Logica access to the source code and the freedom to approach its chosen target segments more proactively.

Sarah Loveday, Director, Global Products of Logica, said: "We will develop our own variations to the core system that help us enhance our market-leading packaged solutions in response to the challenges facing our clients. We know we'll be building on a strong technology base which has a proven track record in major progressive renovation projects. Our experience in working with it to date has given us the confidence to keep it at the heart of our own High Care element of LAPS."

Martin Coen, Dovetail CEO, comments: "This validation of what we offer is the result of several years of intensive review by Logica, and confirms our belief that we have taken a significant step ahead of our competitors in delivering next generation payment systems. The deal will enable Logica to take advantage of the flexibility that our component based solution provides and in turn ensure greater value for Dovetail."

Logica is a major international force in IT and business services. It employs around 39,000 people across 41 countries. Logica’s focus is on enabling its customers to build and maintain leadership positions using Logica’s deep industry knowledge and its track record for successful delivery. The company provides business consulting, systems integration and IT and business process outsourcing across diverse markets including telecoms and media, financial services, energy and utilities, industry, distribution and transport and the public sector. Headquartered in Europe, Logica is listed on both the London Stock Exchange and Euronext (Amsterdam) (LSE:LOG; Euronext:LOG) and traded on the Xternal List of the Nordic Exchange in Stockholm. More information is available at www.logica.com.

About Dovetail

Dovetail provides enterprise-class solutions that support the robust, flexible, scalable, and cost effective processing of banking payments. Founded in 1999 with offices in London and New Jersey, Dovetail has delivered innovative solutions to some of the world’s leading banks. The Dovetail Payments System automates the processing of a wide range of payments, from bulk ACH clearing to global RTGS settlement, supporting both straight through processing and manual entry and repair. It is universal, covering wholesale and retail, high value and low value, urgent and non-urgent, single and bulk payments; in multi-currency, multi-company, and multi-entity operations. The secure, Web-based front end allows local and remote payment entry and repair, liquidity management, and comprehensive exception management. The system fully supports ISO 20022 messaging ensuring no truncation of data. It is component based and built on modern open standards and technology to give the greatest flexibility in choice of hardware and technology platform.

Press Contact

In the UK:
Peter Cremona
Director, European Business Development
+44 20 7997 1200
E-mail: petercremona@dovetailsystems.com

In the US:
Paul Morris
SVP, North American Sales
1-973-882-9922 x223
E-mail: paulmorris@dovetailsystems.com

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