XCH.L Regulatory News (XCH)

1 December 2015

Xchanging plc

Xuber contract win from Cigna

Xchanging plc ('Xchanging'), the business technology and services provider, announces today that its insurance software business, Xuber, has signed a multi-year contract with the health service and insurance group Cigna Corporate Services, LLC ("Cigna"). The contract covers initial licence and maintenance services and also future services provision, which may be material.

The contract is for the provision of Xuber Health software and related services to deliver a policy administration solution for the end-to-end business processing of its international policies across the global business. The win follows the business acquisitions from US-headquartered insurance software company Agencyport Software made in 2014 that brought access to the health insurance sector.

This announcement follows an earlier press release issued on 29 September 2015 rounding up smaller Xuber deals signed up to that date (http://www.xchanging.com/news/xuber-secures-20-new-contract-wins-new-and-existing-customers-2015.

Ken Lever, Chief Executive, commented: "We are pleased to be announcing this material Xuber contract win. We are particularly pleased since it provides a validation of the marriage of the Xuber and recently acquired technologies and is a major project for the now unified Xuber business in this strategic marketplace".

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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.