XCH.L Regulatory News (XCH)

9 December 2014

Xchanging plc

Total Objects Acquisition to Complete

Xchanging plc ('Xchanging'), the business process, procurement and technology services provider, reports today that, with regard to its acquisition of the insurance software business, Total Objects Limited ('Total Objects'), announced on 3 July 2014, the Competition and Markets Authority has cleared the transaction. The acquisition can therefore now proceed and is expected to complete on 23 December 2014.

Ken Lever, Chief Executive of Xchanging, commented: "I am delighted we can now move forward and complete the acquisition. Total Objects has a strong and highly complementary product set that fits well with Xchanging's existing insurance software business, Xuber."

Enquiries

Xchanging plc Tel: +44 (0) 203 604 6999

David Bauernfeind, Chief Financial Officer

Alexandra Hockenhull, Director of Corporate Communications

and Investor Relations

Maitland Tel: +44 (0) 207 379 5151

Peter Ogden

Martin Barrow

Emma Burdett

www.xchanging.com @XchangingGroup Linkedin/company/xchanging

Editors' Notes:

The acquisition of Total Objects will further enhance Xchanging's insurance software offering, in particular in the Binder segment of the market. Binders are legal agreements granted by an insurer to a third party that enable them to seek insurance business on behalf of that insurer. They are particularly widely used in the Property & Casualty insurance market where, for example, a London-based insurer wants to develop business in a wider global market via third parties. In addition, Total Objects offers synergies with Xchanging's Xuber insurance software business.

Cautionary Statement: 

This announcement contains forward-looking statements that are based on current expectations or beliefs, as well as assumptions about future events. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements often use words such as anticipate, target, expect, estimate, intend, plan, goal, believe, will, may, should, would, could, is confident, or other words of similar meaning. In particular, any statements regarding Xchanging's strategy, dividend policy and other future events or prospects are forward-looking statements.  Undue reliance should not be placed on any such statements because they speak only as at the date of this announcement and, by their very nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors (that could cause actual results, and Xchanging's plans and objectives, to differ materially from those expressed or implied in the forward-looking statements.

These forward-looking statements are not guarantees of future performance and there are a number of factors (many of which are outside of Xchanging's control) which could cause actual results to differ materially from those expressed or implied in forward-looking statements. Among these factors are: increased competition, the loss of or damage to one or more key customer relationships, changes to customer ordering patterns, delays in obtaining customer approval or price level changes, the failure of one or more key suppliers, the outcome of business or industry restructuring, the outcome of any litigation, changes in economic conditions, currency fluctuations, changes in interest and tax rates, changes in raw material or energy market prices, changes in laws, regulations or regulatory policies, developments in legal or public policy doctrines, technological developments, the failure to retain key management, or the key timing and success of future acquisition opportunities or major investment projects.

Save for those forward-looking statements required by the Listing Rules, the Disclosure and Transparency Rules and/or the Prospectus Rules, Xchanging undertakes no obligation to update these forward-looking statements, and will not publicly release any revisions it may make to these forward-looking statements that may result from events or circumstances arising after the date of this announcements. Xchanging therefore will comply with its obligations to publish updated information as required by law or by any regulatory authority but assumes no further obligation to publish any additional information.