20 Apr 2009 07:00
20th April 2009
Rubicon Software Group plc
INVESTMENT AND NOTICE OF GENERAL MEETING
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 secured an investment from Information Systems Associates Inc ("ISA"; OTCBB: IOSA) a leading, US based, provider of Data Centre Optimisation software, services and solutions. The investment has been agreed as follows:
Alistair Hancock, Chief Executive, Rubicon Software Group plc, commented: 'This is great news for Rubicon. As outlined in our annual report and accounts for the year to 30 June 2008 we have been looking to improve our cash position and balance sheet strength. This investment will be used to help support working capital and strengthen our platform for growth into new markets. Although the relationship is still at an early stage, we are already working closely with ISA to provide them with a high quality software solution and anticipate this relationship becoming an important channel for us in the future.'
Rob Burnham, Chairman, Rubicon Software Group plc, commented: 'I am delighted that Rubicon is continuing to diversify beyond its core customer base. The proposed investment has been secured at a premium to the current market price showing the confidence that our investor has in our ability to secure and deliver new business from new markets.'
This investment is subject to shareholder approval. The Company hereby gives notice of a General Meeting to be held at 11am on 15th May 2009 at Rubicon House, Guildford Road, West End, Surrey, GU24 9PW. Notice of this meeting will be posted to Shareholders and can be downloaded from the Company's website at www.rubiconsoftware.com.
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
W.H. Ireland Tel: 0121 265 6330
Tim Cofman/Katy Birkin
Lothbury Financial
Michael Padley / Libby Moss Tel: 020 7011 9411
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