Adelaide, Australia-based software developer Prophecy International Holdings Ltd has won an A$19m deal to provide insurance applications to PricewaterhouseCoopers. Its share price rose 80% or A$1.36 to close at A$3.10, the highest level it has reached since listing on the ASX eight months ago. Prophecy will supply PCW through Information Engineering IE, the consulting firm’s insurance systems subsidiary. The deal will provide Prophecy’s greatest source of income, but the company claims there will be little impact made to its 1998/99 results, rather a gradual rise in revenue over four years. IE, exclusive provider of insurance software for PCW, will use some of Prophecy’s applications in its software development. It will also market Prophecy’s flagship product, ProphecyOpen.
