Verifone Inc. and Interaa ve Technologies Inc. announced the signing of a strategic alliance for a low-cost, high-function, screen-based telephone.

Verifone and Interactive Technologies will cooperate on the customization of the Verifone smart phone for use with Interactive's systems, and on joint marketing programs.

Interactive will have exclusive distribution rights to jointly develop smart-phone systems for the U.S. home security, home automation, and utility metering markets.

Other terms of the alliance were not disclosed.

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