16th Mar 2005 07:00
Interregnum PLC16 March 2005 16 March 2005 INTERREGNUM PLC Advises on sale of technology company for significant multiple of revenues Interregnum plc ("Interregnum"), the technology merchant bank, today announcesthat it has advised on the sale of Chevin Ltd ("Chevin"), a security and systemsmanagement company, on behalf of MTI Partners ("MTI"), the UK's leadingearly-stage hi-tech institutional venture fund, to Allen Systems Group ("ASG"),a US provider of enterprise software and professional services, for anundisclosed amount. Interregnum negotiated the successful sale of the companyfor a significant multiple of revenues. The sale of Chevin is expected to generate significant undisclosed advisoryrevenues for Interregnum in the current financial year. Interregnum assessed the value of Chevin - using its proprietary methodology,The Four Pillars of Value(c) - and then identified the most appropriate acquirerfor the company. This transaction reflects Interregnum's capability to take apre-profit early-stage UK company and negotiate its sale to one of the world'slargest independently-owned software companies, creating significant returns toChevin's shareholders. Commenting on the transaction, Ken Olisa, Chief Executive of Interregnum, said: "The sale of Chevin represents a classic merchant banking deal for Interregnum,drawing on our technology expertise and corporate finance skills to transformtechnology into wealth for all parties involved. The deal is an exemplar of theconsolidation in the technology market as larger companies seek to find valuethrough acquisition of smaller IP-based businesses." Ernie Richardson, CEO of MTI, added "Interregnum's creativity and its deepsector knowledge have been integral to identifying the perfect home for Chevin.ASG is an excellent fit, allowing shareholders of Chevin to share in the futurevalue created by this world class technology as it enters the globalmarketplace." - Ends - Enquiries: Interregnum plc 020 7494 3080Ken Olisa, Chief Executive Merlin 020 7653 6620Vanessa Maydon 07802 961 902Rebecca Penney 07795 108178 Notes to Editors About Interregnum plc Interregnum plc (www.interregnum.com) is a technology merchant bank listed onLondon's Alternative Investment Market (symbol: ITR). Established in 1992,Interregnum buys, sells, advises, invests in and operates technology companies.Its advisory services include corporate finance, IP exploitation and commercialdue diligence. The company's clients are principally corporates, government,technology entrepreneurs, advisors and investors. About MTI MTI (www.mtifirms.com) is one of the UK's leading providers of specialistventure capital to UK technology companies that are at an early stage in theirdevelopment or recovery. Its strength lies in its appreciation of hi-techcompanies, coupled with the experience to provide quality business advice. Allits executives are well-qualified technologists who have a passion for helpingyoung companies, and their management teams, evolve and grow. They have enjoyedsuccess in commercial business environments at the most senior levels ofmanagement before joining MTI. MTI's overriding motivation for investment is a company's potential forcommercial success, determined by the quality of its technology, potentialmarket, and the calibre of its management. The Company has been supporting UK early stage technology since 1983, and is currently actively investing from itsfourth, £105m, fund. It typically provides between £1 million and £5 million,with return on investment sought principally in the form of capital gain over a3 to 7 year period. Recent example investments made by MTI include Powerlase, Eleksen and ApaTech,and recent major realisations include Sarantel and Advanced Composites Group. About ASG Founded in 1986, ASG is a privately held global enterprise software andprofessional services firm that provides a full range of software solutions inthe Metadata Management, Security Management, Applications Management,Operations Management, Information & Data Management, Performance Management,and Infrastructure Management arenas. ASG is headquartered in Naples, Florida,USA, with more than 45 offices serving the Americas, Europe, Middle East, Africa, and Asia/Pacific. For more information, visit ASG at www.asg.com. About Chevin Founded in 1989 and based in Luton, Chevin (www.chevin.com) is a privately heldcompany whose primary objective is to optimize organisations' networks in termsof performance and cost to provide both users and customers with an enhancednetwork experience. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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