WTG.L Regulatory News (WTG)

Release Embargoed until 07.00am on Wednesday 14 December 2011

Quindell Portfolio Plc

("Quindell" or the "Group")

Investment in SMI Telecoms LLC

Quindell Portfolio Plc (AIM: QPP.L), the brand extension company, is pleased to announce today that it has agreed to acquire a 10 per cent. interest in SMI Telecoms LLC ("SMI"). The purchase price for the acquisition is £800,000, and has been funded by an issue of 13,333,333 new ordinary shares in Quindell ("New Shares") at 6.0p per share, representing a 20 per cent. premium to the mid market closing share price of the Group on 13 December 2011. The investment values SMI at £8 million. The New Shares are subject to lock-in arrangements for 12 months from today's date.

The Group has built good momentum in its own software capabilities as well as expanding its product offerings through the signing in November 2011 of a technology and marketing partnership with SMI Telecoms LLC, a software solutions provider to the telecommunications industry. In particular, the Group is pleased with the initial industry response to its insurance claims capabilities, with at least one multinational outsourcing organization pursuing discussions with the Group in relation to a joint initiative in this market.

As previously reported, SMI has its main base of clients in the USA, Middle East and Africa including two global telecoms Managed Service providers. Its OS3 product suite, available as both On-Premise and SaaS, will have increased focus as a Cloud based solution portfolio through the partnership with Quindell. SMI customers are already experiencing substantial savings in cost of network operations and improved customer satisfaction through the process automation capabilities of OS3. Quindell's Workforce and Supply Chain Management solutions will enable OS3 to extend operational efficiency and effectiveness to workforce and supply chain operations.

The board of Quindell and SMI believe that Quindell's financial position and technical presence in Europe should assist the two companies in targeting European Communication Service Providers, as well as offering historical licensed European customers of OS3 the opportunity to upgrade to the new OS3 portfolio releases.

Rob Terry, Chairman and Chief Executive of Quindell said: "Quindell already has an exclusive technology and marketing partnership in Europe with SMI, expanding our focus on providing our technology enabled software and consultancy solutions to the telecommunications industry. This investment increases the depth of our relationship with SMI and ensures that we will start now to benefit in part from SMI's successes in the US and Far East regions." 

Application has been made for the New Shares to be admitted to trading on AIM. Admission of the New Shares is expected to occur on 19 December 2011. Following Admission Quindell will have 2,001,969,741 Ordinary Shares in issue. This is the number which should be used by shareholders 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, the Brand Extension Company, helps its clients, investments and partners to utilise their brands, enabling them to achieve greater sales, extend the brand into new product offerings and take advantage of alternative routes to market including white labeling, franchising and using broker and agency channels.

Quindell also provides clients with its cloud based technology to deliver the necessary framework to support the online, office and field based sales and service expectations of both its clients and their customers in an efficient and cost effective manner.

In addition to extending the customer wallet share of its clients' brands, Quindell's solutions are focused on generating improvements in efficiency and effectiveness for all of its clients, and savings of over 20% against industry norms are targeted. 

The Group's consultancy arm drives the business transformation of its clients, and is supported by its leading edge technology, technology enabled outsourcing, membership schemes, social media and e-commerce with out of the box implementations.

The Group currently works with more than 1,800 companies from SMEs to national and international brands around the globe, and its solutions are applied in the following sectors and their related supply chains: 

·; Technology, Telecommunications and Utilities

·; Finance, Insurance and Legal Services

·; Leisure, Retail and E-commerce

·; Education

Quindell Portfolio joined the market through Mission Capital plc. The Group was readmitted to the market on 17 May 2011 following the Company's acquisition of the whole of the issued share capital of Quindell Limited. On 18 July, the Company was renamed Quindell Portfolio Plc.

For further information, please visit www.quindell.com 

About SMI Telecoms

SMI Telecoms provides OSS solutions to the global communication service provider marketplace. At the core of the product portfolio is OS3, a suite of service management solutions designed specifically for the communications industry. OS3 embraces industry best practices and standards as set out by TM Forum Frameworx and ITIL and is quick to install with low cost maintenance. The OS3 suite is available as On-Premise or SaaS.

For further information, please visit www.smi-t.com 

ENDS