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10 Feb 2009 10:53
Artilium plc
Contract with Tata Consultancy Services
Update re funding
Contract with Tata Consultancy Services
The Board of Artilium plc ("Artilium" or the "Company") announces today that it has signed a partnership agreement with Tata Consultancy Services Limited ("TCS"), a leader in IT services and business solutions.
The non-exclusive agreement is composed of reseller, systems integration, hosted applications service delivery, and applications development components, the net effect of which is a TCS ARTA sales and service delivery capacity and projection.
Part of the Tata Group, TCS is a global IT organisation with over 130,000 consultants in 160 offices across 42 countries, and sales of $5.7 billion (fiscal year ending 31 March, 2008). Gartner named TCS as one of the top-ten global telecoms vendors.
Update re funding
The Company's management is eager to develop the TCS agreement and other commercial opportunities and is therefore exploring a variety of funding scenarios. These scenarios include the potential cancellation of the Company's shares from trading on AIM which could involve a buy-back and cancellation of some of the Company's shares.
For further information contact:
Artilium plc
Robert Marcus , Chief Executive +32 50 230 300
Deloitte Corporate Finance
Jonathan Hinton/David Smith +44 (0)20 7936 3000
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