Prudential Licenses Princeton's Pam, Will Phase Out Legacy Environment

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NEWARK, New Jersey--Prudential Investments, the $200 billion arm of Prudential Insurance, has licensed Princeton Financial Systems' Pam for Securities to handle the accounting for an approximately $40 billion portfolio of private placements. The contract was signed after a five-month test that concluded earlier this month, and a Princeton official expects the installation to be completed by early 1999.Princeton will not disclose the full value of the contract, although a spokesman for the co