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Peerless Systems Announces $1.2 Million Block License Extension

Peerless Systems Corporation , a provider of software-based embedded imaging and networking systems and storage management systems to the digital document and storage markets, today announced the sale of an extension of a block license agreement totaling $1.2 million. The new sale has been invoiced and is expected to be paid for in the current quarter.

"We are seeing OEMs utilizing their existing licenses faster than previously projected and returning to Peerless for increases to the initial licenses. We attribute this to the longevity of the product OEMs are currently shipping and see it as a reconfirmation of the success of Peerless technology," commented Howard Nellor, President and Chief Executive Officer of Peerless Systems Corporation.