SEI Corp. of Wayne, Pa., and Integrated Decision Systems Inc. of Los Angeles have reached an agreement to develop investment management software.

The software, scheduled for availability next summer, will be based on Integrated Decision's core product, Global Investment Manager II. Institutional investors and money managers are its primary users.

Ann M. Luther, executive vice president of SEI, said that firm will work with Integrated Decision "to add special features that can make the software more attractive" to trust and investment departments of banks.

Initially, the two companies' sales efforts will focus on banks that use SEI's trust and investment processing services. Integrated Decision and SEI will share profits from sales to SEI clients. SEI has agreed not to sell any competing investment management software to its customers.

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