Hewlett-Packard Co, which currently has insignificant activity in the international banking market, is tying up with Management Technologies Inc, a small 12-year-old $4m-a-year New York firm, to heighten its participation (CI No 2,026). The pair have signed a letter of intent that – if it reaches the definitive stage – will have Hewlett-Packard investing significant resources including money, hardware, software, people and facilities in Management Technologies for the implementing and development of Management Technologies’s mainframe-based software on its Unix systems. No figures were given and no equity is involved, but Management Technologies clearly sees the investment as a payment for partnership. The twosome will co-market the products with Management Technologies receiving a 7% hardware commission. For the last 10 months, Management Technologies has been run by Anthony Cataldo, former president of Internet Systems Japan, once the highest ranked salesman of international banking systems in the world. During his tenure the publicly traded company has gone from 25 cents a share to $3. Management Technologies’s software, which also runs on RS/6000s, will get Hewlett-Packard into the nucleus of the international banking world, a potentially very lucrative field, for the first time. Management Technologies intends converting its systems for other Unix hardware because of the growing popularity of Unix in banking circles.
