13 Aug 2007 07:00
Embargoed Release: 07:00hrs Monday 13 August 2007
SOPHEON PLC ("Sopheon") SOPHEON NAMED TO ENABLE TRANSITION OF IDe CUSTOMERS Arrangement Extends Sopheon's Position as Industry's Leading Provider of Product Roadmapping, Planning and Process Automation Solutions
Sopheon plc announces today that its affiliate, Sopheon Corporation, has entered into an agreement with Integrated Development Enterprise, Inc. ("IDe") under which Sopheon intends to offer transition services and support to IDe customers previously covered by IDe maintenance and support contracts. The agreement follows a recent decision by IDe to discontinue its business.
Founded in 1998, Boston-based IDe specialized in providing product portfolio management software solutions to large manufacturers and services companies. IDe has announced Sopheon, a former competitor, to its customers as an alternate source of services and assistance that IDe will no longer be able to provide.
Terms of the agreement afford Sopheon exclusive access to such IDe assets as its customer list, software code and all documentation relating to IDe's software. Sopheon intends to contact each of IDe's customers to discuss potential support options, including transitioning to Sopheon's Accolade‚® software and services. However, Sopheon is not committed to assume, nor is it legally bound to, any of IDe's obligations to IDe's former end-users, and terms and conditions of the transition will be as agreed between Sopheon and IDe's individual customers. IDe's client base of 18 companies is approximately one-fifth the size of Sopheon's and similarly includes many Fortune 1000 companies.
Sopheon's outreach to IDe customers began last week. Sopheon said that it views the initiative as a unique opportunity to expand its customer population while also increasing maintenance and support revenue.
Less than 60 days ago, Sopheon was successful in a bid to acquire the assets of Alignent Software, a California-based supplier of advanced product and technology roadmapping solutions. The consolidation of Alignent enabled Sopheon to extend its product life cycle management solution footprint to include product planning. Sopheon believes that the agreement with IDe will build on Sopheon's history of steady, substantial growth in the expanding product portfolio and innovation process management market. Since Sopheon's launch of its Accolade solution six years ago, its Accolade-related revenues in dollar terms have increased at an average rate of nearly 50% per year.
Barry Mence, chairman of Sopheon, commented:
"There is good compatibility between IDe's flagship offering and Sopheon's Accolade. There is also a strong fit between our client bases. Add to this the fact that we already know a fair amount about IDe's application, and we believe we are in a position to offer a seamless transition to IDe customers."
For further information contact:
Barry Mence, Chairman Sopheon plc Tel : + 44 (0) 1483 685 735 Arif Karimjee, CFO David Newton Seymour Pierce Limited Tel: +44 (0) 207 107 8000 Jonathan Wright, Nominated Advisers Andrew Tan Hansard Group Tel : + 44 (0) 207 245 1100 + 44 (0) 7957 203 685 Floor van Maaren Citigate First Financial Tel : + 31 (0) 205 754 010 About Sopheon
Sopheon is an international provider of software and services that help organizations improve the business impact of product innovation. Sopheon's Accolade system automates and governs the innovation process, enabling companies to increase revenue and profits from new products. Sopheon is listed on the AIM Market of the London Stock Exchange and on the Euronext in the Netherlands. For more information, please visit www.sopheon.com.
SOPHEON PLC