Lucent wants in on Spectrum investment

WEL Technology has signed an option allowing Lucent to acquire a fully diluted 20% stake in the company.

Spectrum says the deal offers WEL Tech the potential to benefit from Lucent's global expertise and experience, significantly accelerating software development by the New Zealand company.

It says Lucent will initially work alongside WEL Tech on its flagship contract management and billing software, PV2, and the two companies will also explore new areas for future collaboration.

Spectrum Resources' boss, Rob Levison, says Lucent's investment in WEL Technology confirms the reason
why SPE first backed the company themselves, and that is because it has real global potential.

"Lucent's interest is a huge plus for WEL Technology, which should be able to significantly accelerate development of new and innovative products and advance its own expansion into new markets overseas."

In June Lucent paid $1.33 million for a license to integrate WEL Tech software into its own billing product.

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