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Contract with the World Bank

14th Apr 2011 07:00

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: 020 7917 2975

Matt Cooper, Executive Chairman / Shawn Taylor, CFO

Arbuthnot Securities Limited

Tel: 020 7012 2000

Tom Griffiths

Threadneedle Communications

Tel: 020 7653 9850

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.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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