Tukatech Terminates Deal With Justwin Software
Los Angeles–based CAD company Tukatech Inc. has suspended its previously announced deal to distribute business management software by New York–based Justwin Technologies Inc.
Tukatech Chief Executive Officer Ram Sareen said the termination of the deal was based on a financial decision and added that Tukatech intends to replace Justwin’s collaborative product development solution with a similar product in the near future.
“Justwin has a fantastic line of products, and they will continue to provide their products and services—it just won’t be a Tuka product,” he said.
Justwin Chairman Ron Finkel noted that both companies had worked closely over the past year collaborating on the installation of Justwin products at a number of customer sites.
“Unfortunately, we were not able to reach an agreement on the financial terms of our proposed merger, and we agree that it is in the mutual interests of all parties to pursue their separate corporate strategies,” Finkel said. —R.M.