Serenus Technology Group, a software research and development company, has formed a new partnership with Capital Tile to jointly develop a product.

The joint team will be working on the development of a software product that they say will revolutionize business in the tile industry. The product is scheduled for release in early 2004.

Serenus says the deal with Capital Tile, one of North Carolina’s largest ceramic tile distributorships, will bring innovation to business processes in the tile industry, a market segment representing over $5 billion in annual business in the United States.

“We are very pleased to work with the industry leader and to assist them as they introduce new business methods via software to their market,” said Timothy Hess, chief executive officer of Serenus in Durham. “Our successful partnering with — Capital Tile in this venture shows that the Serenus model of cost-effective blended software development can enable innovation in diverse business sectors.”