Telecom News -- InvestNet Inc. Monday announced the execution of a memorandum of understanding with Dragon Telecom Co. Ltd., whereby Dragon has decided to allow InvestNet to install and customize its Advance Switch software engine to provide telecommunication integration services in Tianjin, China.
Additionally, Dragon has agreed that should utilization of InvestNet's Advance Switch prove successful during a six month evaluation period, it will buy the Advance Switch source code for U.S. $800,000 payable in four equal installments commencing on March 1, 2005 with the final payment on Dec. 1, 2005. Dragon plans to commit additional research and development resources to augment the Advance Switch source code for the purpose of enhancing telecommunication applications throughout China.
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