WTG.L Regulatory News (WTG)

Embargoed for release until 7.00am 25 March 2013

Quindell Portfolio Plc

("Quindell", the "Company" or the "Group")

Acquisition of iSaaS Technology

·; Cloud-based SaaS provider to the UK and International medico-legal services industries

·; Earnings enhancing in the current year

·; Allows Quindell to benefit from market share beyond that which it is servicing directly

Quindell Portfolio Plc (AIM: QPP.L), the provider of sector leading expertise in software, consultancy and technology enabled outsourcing in its key markets, being Insurance, Telecommunications and their related sectors is pleased to announce the acquisition of iSaaS Technology Limited ("iSaaS"), the leading cloud-based Software as a Service ("SaaS") provider to the medico-legal and legal services industries both in the UK and overseas.

The terms of the acquisition were satisfied by the issue of 38,057,143 Quindell shares and the payment of £1.34 million in cash. The shares, representing approximately 1% of the Group's issued share capital, will be subject to lock in of between 12 and 36 months from the date of issue. The iSaaS management accounts for the three months to 31 March 2013 forecast turnover of circa £0.5 million and profit before tax of circa £0.4 million. The acquisition is expected to be earnings enhancing in the current year.

Through its unique combination of service offerings, Quindell has already put in place outsourcing solutions for insurance companies, brokers and other intermediaries that survive the changes of legislation brought on by LASPO on 1 April 2013. iSaaS offers a similarly highly disruptive SaaS based model that is effective post these changes for the legal profession, doctors and rehabilitation specialists as well as for insurance businesses that cannot replicate the Quindell model but want to operate legal practices in-house with their own independent iSaaS medical reporting network in support of their personal injury work.

Quindell's strategy is to provide outsourced services, consultancy and technology directly to its customers, whilst also offering them alternative models including SaaS based solutions such as those provided by iSaaS. As a result, Quindell has grown its share of the insurance outsourcing market over the last 12 months and also pursued a strategy of providing licenced software to other market participants in order that, as a Group, it can benefit from market share beyond that which it is servicing directly.

Rob Terry, Chairman and Chief Executive of Quindell said: "Our strategy is to provide outsourced services, consultancy and technology directly to our customers, whilst also offering them alternative models including SaaS based solutions such as those provided by iSaaS. The team at iSaaS have a progressive and disruptive approach to their market, which we believe delivers significant benefits beyond our own operations and it is great that we are now able to formalise this relationship through this acquisition.

Over the last year we have grown our share of the insurance outsourcing market, but we are similarly comfortable with a strategy of providing licenced software to other market participants, including those overseas as demonstrated by iSaaS's recent success in the Australian market, in order that, as a Group, we can benefit from market share beyond that which we are servicing directly."

Application has been made for the 38,057,143 new shares to be admitted to trading on AIM. Admission of the shares is expected to occur on 29 March 2013. Following Admission Quindell will have 3,678,775,910 ordinary shares in issue. The Company has no ordinary shares held in treasury. The total of 3,678,775,910 ordinary shares may therefore be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

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Notes to Editors:

About Quindell Portfolio Plc

Quindell Portfolio Plc is a provider of sector leading expertise in Software, Consulting and Technology Enabled Outsourcing in its key markets being Insurance, Telecommunications and their Related Sectors. Quindell joined the market through Mission Capital Plc, now renamed Quindell Portfolio Plc. The Company was readmitted to the market on 17 May 2011 following the acquisition of Quindell Limited prior to the immediate acquisition of Quindell's technology and outsourcing partners. In December 2011, Mobile Doctors Group Plc was acquired increasing 2012 run-rate revenue to over £50 million. On the 1 April 2012, Ai Claims Solutions Plc became a subsidiary of Quindell, increasing run rate revenue to over £150 million. Post gaining approval by the Solicitors Regulation Authority and the acquisition of our legal businesses in December 2012, including the law firm Silverbeck Rymer, Quindell finished 2012 with run rate revenue of more than £300 million.

Our Industry Sectors

In today's digital world the line between traditional industry sectors continues to blur, however the focus on tight service management is common to them all. We believe that excellent customer service, tight cost control and integrated supply chain management is not the prerogative of any single industry sector and with our solutions in multiple industry sectors savings of over 20% against industry norms are being delivered to the bottom line.

Our Solutions

The pressures on an organisation can come simultaneously from multiple directions including the need to add customers, increase wallet share, reduce costs and improve customer satisfaction. At Quindell we have the People, the Processes and the Supply Chains, underpinned by our sophisticated Champion and Challenger Business Process Management Technology Platform and Industry Solutions to help our customers tackle these efficiently and effectively.

With a clear understanding that having the best products and services on offer is not always enough and that getting your customers to use or adopt them is key, effective conversion lies at the core of our unique Champion and Challenger tools and techniques. Using these solutions Quindell has helped its customers achieve sales and service conversion rates ranging from 75% to 90%, way above industry norms. But life does not stand still, and complacency can kill any business, so the embedded Champion and Challenger continual improvement focus of our Learning Solutions is at the heart of all we offer. Using our industry insight and expertise, Quindell takes the holistic view of our client's challenges.

For example, when considering the Insurance industry today where 50% of the cost of an auto claim is associated with Personal Injury, including legal services, medical reporting and rehabilitation, it is clear that an organisation will not be able to achieve the levels of savings and customer satisfaction desired without addressing the injury to the driver as well as the repair of the vehicle. This is why at Quindell we have designed our insurance solutions and supply chains to address the full end to end cycle, with the ability and expertise to treat an injured party as well as repairing their vehicle. This makes Quindell a truly unique and ethically based proposition for the insurance industry today.

Our Customers

Quindell Portfolio's companies have worked with over 2000 brands from Small to Medium Enterprises and Blue-chip organisations around the globe. Today we count a number of the world's top Insurance and Telecommunications blue chip companies within our client base, as well as hundreds of customer centric organisations working in both the distribution and supply of their services.

Our award winning Business Transformational, Software, Consulting and Outsourcing Solutions are recognised as delivering significant savings and additional sales to our customers every year.

For further information, please visit www.quindell.com