Oslo, Friday, October 22, 2010
Stock Exchange Notification
Technology License Agreement between Pictometry International Corp. and Blom ASA
Pictometry has notified Blom that they consider Blom to be in breach of the Technology License Agreement (TLA) entered into January 29, 2009 and has consequently terminated the agreement with immediate effect. Blom is of the strong opinion that Blom has not violated the TLA, thus the notice of breach and termination is null and void and of no effect. Blom has through legal advisors taken all required actions to protect its interests.
In the unlikely event that the parties should not come to an agreement, the present licence agreement protects all Bloms customers and will secure continued access to services subscribed to.
Blom will continue its present strategy to build on its geoserver and distribution capability both for engineering services and informations services.
For further information please contact:
CEO Dirk Blaauw, tel. (+47) 22 13 19 23 or
CFO Lars Bakklund, tel. (+47) 22 13 19 24.