Contract with the World Bank

RNS Number : 8813E

Imaginatik PLC

14 April 2011

 



14 April 2011

Imaginatik Plc

("Imaginatik" or the "Company")

Contract Win with the World Bank and 2012 Revenue Visibility

Imaginatik plc (AIM: IMTK.L), a leading provider of innovation management software and consultancy, is pleased to announce the signing of an annual licence deal with the World Bank, an international development organisation that provides financial and technical assistance to developing countries around the world.

The contract increases Imaginatik's revenue visibility for the year ending 31 March 2012, being annually recurring revenue plus innovation-as-a-service projects, to over $4m, an increase of over 25% from this time last year.

The contract is initially for one year with the option of two additional years, and consists of an initial licence with annually recurring support and maintenance fees, plus additional project fees. The World Bank has selected Imaginatik to provide a competition management platform and services to its employees. Imaginatik's innovation services team will design, run and oversee a number of innovation events across the client's organisation each year.

Matt Cooper, Executive Chairman of Imaginatik, commented: "We are extremely pleased to have signed this contract with the World Bank, replacing an incumbent innovation software platform. We are looking forward to working with them to deliver first-class tools and consulting services for a fully integrated innovation programme. This is the third annual client to be added to our customer portfolio in recent weeks, demonstrating our sales momentum and, importantly, increasing revenue visibility for the coming year."

For further information please contact:  

Imaginatik plc	Tel: [phone]
Matt Cooper, Executive Chairman / Shawn Taylor, CFO
Arbuthnot Securities Limited	Tel: [phone]
Tom Griffiths
Threadneedle Communications	Tel: [phone]
Caroline Evans-Jones / Hilary Millar

About Imaginatik

Imaginatik provides Innovation and Idea management solutions comprised of consultancy, software and program management to deliver innovation outcomes to companies such as The Chubb Group of Insurance Companies, Boeing, Pfizer, Goodyear, Paccar, Kellogg and Cargill. Few companies possess the internal capability to consistently generate fresh ideas, identify those worth pursuing and reliably transform them into real, value-enhancing assets. This is Imaginatik's area of expertise.

Imaginatik is a public company whose shares are traded on the AIM market of the London Stock Exchange (LSE:IMTK.L) and a World Economic Forum Technology Pioneer with offices in Boston, MA, and London. In 2009, Imaginatik was named as one of the 500 fastest growing technology companies in the EMEA region by Deloitte. For more information visit www.imaginatik.com.

 

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