Acquisition

Manpower Software PLC 07 April 2008 MANPOWER SOFTWARE PLC ("the Company") ACQUISITION ANNOUNCEMENT 7 April 2008 Manpower Software plc is pleased to announce the acquisition of Key IT Systems Limited ("Key IT"), the market leader in the provision of software solutions for the management of temporary staff (otherwise known as "bank staff") in the NHS for an initial consideration of £375,000 in cash. Deferred consideration of up to a further £455,000, to be paid in ordinary shares in the Company (such shares to be issued at the closing mid-market price of the Company's ordinary shares as at 4 April 2008, which was 53.5 pence per ordinary share), will be payable dependent upon the level of support contract renewals in 2008 and 2009. The acquisition of Key IT enables Manpower Software to offer a fully integrated e-rostering and bank staffing solution to Key IT's customers, where the Company will be represented in more than 90 additional NHS Trusts. Key IT's unaudited profit before tax for the year ended 31 January 2008, as reported by management, was £50,682. Further, the vendors of Key IT have warranted that the net assets of Key IT at completion will be not less than £29,395, which figure excludes any value attributable to capitalised research and development costs. The Directors believe the acquisition will be earnings enhancing in the first full year of ownership, before any amortisation of intangible assets or impairment review of goodwill. Ian Bowles, CEO of Manpower Software plc, said: "Our business strategy for the Healthcare sector is to be the leading supplier of workforce optimisation solutions to the UK NHS and broader healthcare markets. The acquisition of Key IT considerably strengthens our position and moves us closer to the accomplishment of that goal. The combined strength of the two businesses will bring real benefit to all our NHS and healthcare customers, and we look forward to demonstrating our continued commitment to the healthcare industry over the coming months." Enquiries: Manpower Software plc Simon Thorne, Chief Financial Officer 020 7389 9500 Numis Securities Michael Meade James Black 020 7260 1000 This information is provided by RNS The company news service from the London Stock Exchange
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