IS Solutions PLC
20 July 2000
I S Solutions plc
Strategic Investment in Open Methods Limited ('Open
Methods')
The Company announces that on 14 July 2000 it acquired a 26
per cent. interest in a newly established business, Open
Methods.
Open Methods has been established by 3 individuals, who have
previously worked with I S Solutions, and commenced trading
in April of this year. The company has been established to
develop and deploy new methodologies for internet based IT
projects.
As a result of deploying the methodology, organisations will
be able to produce the necessary components of their
strategic vision more quickly, more cheaply and to a higher
quality. The methodology will be offered as open source
material, with Open Methods generating revenue as a result
of training and consultancy based upon the product set.
The total consideration of £100,000 has been provided by
equity and medium term loan. Upon completion, Peter Kear,
Sales Director of I S Solutions, will become a non-executive
director of Open Methods.
Commenting on this strategic interest John Lythall, Managing
director of I S Solutions said:
' Having worked on projects with Open Methods we have a high
regard for their management team and believe that our
strategic interest will enable IS Solutions to influence the
development of internet methodologies. It will also provide
access to high quality consultants as well as related
training for our own staff'
Further Information can be obtained from:-
John Lythall, IS Solutions 01932 893333
Roger Francis Open Methods 0870 076 6000
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