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RNS Number : 1371R
Rubicon Software Group PLC
27 April 2009
Rubicon Software Group plc
STRATEGIC ALLIANCE
Rubicon Software Group plc ("Rubicon" or "the Group"; AIM: RUBI), a leading provider of smart customer relationship management IT solutions, today announces that it has signed a strategic alliance agreement with Information Systems Associates Inc ("ISA"; OTCBB: IOSA) a leading, US based, provider of Data Centre Optimisation software, services and solutions. ISA agreed to make a £100,000 investment in Rubicon that was announced on the 20th April 2009.
The strategic alliance, initially for three years, consists of three parts:
* Rubicon is now ISA's software development partner
* ISA is now Rubicon's exclusive agent in the United States for the purposes of reselling Rubicon's
products and services
* Rubicon will provide resources to help ISA fulfil its contracts in the UK and Europe
Under the terms of the agreement ISA is incentivised to introduce new business to Rubicon through a combination of commission payments and equity. ISA will receive a Warrant over a Rubicon Ordinary Share for every £1 of new business delivered by ISA to Rubicon up to a maximum of 5 million Ordinary Shares over the next 3 years. Each Warrant can be exercised at a price of 5p.
Alistair Hancock, Chief Executive, Rubicon Software Group plc, commented:
"This is an exciting development for Rubicon and we are very happy that ISA has chosen us as its strategic partner. ISA is a market leader in the provision of 'On Site Physical Inventory' software and auditing services and is looking to expand into the European market. We are looking forward to partnering with ISA in the UK and Europe to help them develop a successful brand and service offering beyond the US. In selecting Rubicon Software, ISA has recognised the strength and experience of our development team in creating smart software that gives its clients significant competitive advantage."
"This is a very important step for Rubicon because in a single strategic alliance agreement we gain a sales channel in the US for our products and services, we secure ongoing software development work, and we have an entirely new proposition for the Group to deliver to a growing market."
Joe Coschera, Chief Executive, ISA, commented:
"We are delighted to enter into this strategic alliance with Rubicon. We expect that Rubicon's technical expertise will help us to accelerate our growth in Europe and in the US, and we look forward to seeing our shared achievements reflected in the value of our investment in Rubicon shares."
For further information, please contact:
Rubicon Software Group PLC
Alistair Hancock, Chief Executive Officer Tel: 01276 706 900
Andrew Kirby, Finance Director www.rubiconsoftware.com
Information Systems Associates Inc Tel: 001 772 403 2992
Joe Coschera, Founder and President www.isa-inc.net
W.H. Ireland Tel: 0121 265 6330
Tim Cofman/Katy Birkin
Lothbury Financial Tel: 020 7011 9411
Michael Padley / Libby Moss
Notes to Editors
About Rubicon
Based near Woking in Surrey, Rubicon Software is a provider of smart customer relationship management IT solutions. Its core technology is designed to enhance the effectiveness and efficiency of customer service, fulfilment and product selection, whilst facilitating business process and change management. Current clients include First Response Finance, Market Harborough Building Society, and Norton Finance. The Group's technology and skills are applicable to other markets and the Company is actively targeting these new areas. For more information, please visit www.rubiconsoftware.com.
About ISA
ISA is a leading provider of data center optimization software, services and solutions based out of Palm City, FL. Its core technology (OSPI) provides a toolset allowing customers to create a highly accurate data set of their current IT assets. This information can be utilised to enable businesses to make meaningful decisions on Data Center management that lead to optimization of resources, cost reductions and significant ROI. ISA's customer list includes a number of leading organizations, such as Northrop Grumman Electronic Systems, National Counsel on Compensation Insurance (NCCI), Comcast Communications and General Electric. For more information, please visit www.isa-inc.net.
This information is provided by RNS
The company news service from the London Stock Exchange
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