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Board of Directors
January 20, 2010-Press Release
iRent™ and IMSI/Design® Join Forces Opening New Markets
Boston, Massachusetts, 20 January 2010. iRent™ LLC, the PC based Software as a Service provider, today announced the signing of an agreement with IMSI/Design®, the global leader in retail CAD. This agreement will allow iRent to enable IMSI/Design's flagship product, TurboCAD® Professional, the award-winning CAD application with a a very powerful set of mechanical and architectural design capabilities, to be rented on a monthly subscription basis. With TurboCAD® Professional now fully rent-enabled, new markets, until now untapped by this type of business model, will become available to IMSI/Design. This exciting development of new and recurring revenue streams will help drive growth for both iRent and IMSI/Design in this highly competitive sector of the software industry.
iRent's unique proposition allows for rented software to reside on local PC(s) and thereby eliminates the need for a continuous tethering to the Internet. End-users who fail to make agreed rental payments are logged and their applications are automatically disabled.
"SaaS is exploding in popularity, and 2D/3D CAD applications like TurboCAD, especially when they are enabled to be run locally on a PC, are perfectly suited to SaaS," stated Bob Mayer, Chief Operating Officer for IMSI/Design. "We think using this sales model, our TurboCAD Professional product will especially appeal to both AEC and Mechanical engineering professionals."
"The key to our success is in forming strong and lasting partnerships. Our relationship with IMSI/Design, as exemplified by this new contract agreement, is an example of our values and commitment," acknowledged Rick Cluthe, President and COO of iRent LLC. "In today's economic environment, renting as opposed to buying software is a very appealing cost saving option for any business. From the software provider's perspective, renting secure in the knowledge that their software is immune to theft and can only be used when the rental payment is received is very reassuring. We have eliminated the risks of both bad debt and theft without requiring our clients to further invest in their code."
About IMSI/Design® llc
IMSI/Design is the global leader in retail CAD (Computer Aided Design). IMSI/Design products include the award-winning TurboCAD®, DesignCAD™, DoubleCAD® and TurboFLOORPLAN® families of precision design applications. Please visit
for more information.
About iRent™ llc
Founded by two IT industry executives, iRent™ offers users a unique proposition - Software as a Service (SaaS) without the need for a permanent tethering to the Internet. For the industry iRent represents an exciting new platform that securely rents applications and opens entirely new revenue opportunities for the content provider.
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