New Contract Win
November 25 2008 - 2:00AM
UK Regulatory
RNS Number : 8352I
Formjet PLC
25 November 2008
25 November 2008
FORMJET PLC
('FORMJET' OR 'THE COMPANY')
(AIM:FMJ)
THE CARPHONE WAREHOUSE SOFTWARE AGREEMENT
The Board of Formjet plc, the AIM listed alternative software vendor, is pleased to announce that versions of its Ability and Panda
Software will be preinstalled on computers provided by The Carphone Warehouse as part of its broadband offering. The software will be free
for a 30 day period following which users can unlock the full version on their computer.
This is a groundbreaking contract for Formjet, opening up exciting new channels for the Company. The deal will provide significant
branding opportunities together with the potential for renewals and upgrades once the 30 day period elapses.
HIGHLIGHTS
* Formjet's Ability Office and Panda Internet Security software to be pre installed on up to 100,000 computers per month; and
* Once the 30 day period has expired there will be opportunities for Formjet to benefit from upgrades and renewal contracts.
Versions of Formjet's Ability Office and Panda Internet Security will be preinstalled on computers provided by The Carphone Warehouse as
part of its broadband offering. Initially the software will be installed in up to 100,000 computers a month, with the potential to reach 1.2
million customers a year.
Once the 30 day period expires, customers have the option to purchase the full product. There is potential for Formjet to boost its
recurring revenues while margins will be protected thanks to its royalty based model. There will also be scope for Formjet to sell its other
software titles to the enlarged customer base.
Lyndon Chapman, Executive Chairman of Formjet commented: "We are delighted to have secured such a high profile deal. The fact that The
Carphone Warehouse awarded Formjet this contract in the face of stiff competition highlights the strength of our product offering."
---ENDS---
ENQUIRIES:
Formjet plc Tel: 01293 848 860
Lyndon Chapman, Executive Chairman
Tony Lee, Chief Executive
www.formjetplc.com
Dowgate Capital Advisers Ltd Tel: 020 7492 4777
Liam Murray, Nominated Adviser
www.dowgate.co.uk
Old Park Lane Capital Tel: 020 7493 8188
Michael Parnes, Joint Broker
www.oldplc.com
Dowgate Capital Stockbrokers Ltd Tel: 01293 517 744
Neil Badger, Joint Broker
www.dowgate.co.uk
Bishopsgate Communications Ltd Tel: 020 7562 3350
Maxine Barnes
Nick Rome
www.bishopsgatecommunications.com
Notes to Editors:
Formjet plc
Formjet plc is a UK-based company with a highly distinctive business model. It acquires territorial rights to 'alternative' software
products, and markets, sells, distributes and supports these products in place of the vendor in worldwide markets. The strategy has at its
heart the proposition that the Company can acquire product lines in territories of at least one country without the expense of either
product development or the creation of IPR.
Alternative Products
* Panda Software (UK) distributes Panda Software antivirus and Internet security products in the UK. With its high margins and
recurring annual renewal revenues, Panda is a major contributor to the Group's sales and profitability.
* Ability Software International (ASI) distributes a powerful suite of office products which, as well as being sold under their own
branding, form an integral part of the white label opportunities that Formjet is creating. Ability Software International has also developed
the ASI Business Software range. This comprises eight titles, which include fully comprehensive office and graphics suites, Internet
security, a business plan development application, small business accounting, appointment book management and staff records management
software. In September the Company also added a remote access tool called BeAnywhere to this range.
* EdAlive edutainment software has opened up a new and growing market for Formjet and now covers a wide range of core subjects
including maths, word skills and spelling.
Alternative Routes to Market
* Formjet Innovations is the specialist distribution arm of the Formjet Group focusing on its alternative product range and
associated alternative routes to market. The focus here is on creating "white label" software, targeting retail and brand leaders of
importance.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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