Electrolux Contract Win

19 Apr 2006 07:00

Embargoed Release: 07:00hrs Wednesday 19th April 2006 Sopheon plc (`Sopheon') Electrolux Licenses Sopheon's Accolade Solution for Enterprise-Wide Deployment World's Leading Producer of Home Appliances Will Implement System to Enhance and Manage Innovation Processes Sopheon, an international software and services company, announced today thatElectrolux, a global appliance manufacturer, has selected Sopheon's Accolade asits innovation process and product portfolio management solution.Electrolux will deploy the Sopheon system under an enterprise-wide agreementthat covers company locations throughout Europe, the Americas, and theAsia-Pacific region, encompassing all product areas including Major, Floor Careand Small Appliances. Access will initially be provided to approximately 1400users. Sopheon said that the licenses and services order is among the mostfinancially substantial in its history. The contract - described as imminent inSopheon's results announcement issued yesterday - has now been signed. Specificterms were not disclosed.Electrolux is the world's leading producer of home appliances for kitchen andcleaning use. Its products are sold in more than 150 countries under suchwell-known brands as AEG-Electrolux, Electrolux, Frigidaire and Eureka.Electrolux has stated publicly in recent months that product development is oneof its core processes and that innovation is key to its ability to sustain itsposition of market leadership. Electrolux has since year 2000 almost doubledits investments in product research and development.Electrolux's adoption of Accolade is part of a broad initiative by the companyto change the way it develops new products. Electrolux will use Accolade'scapabilities to help it more effectively prioritize investments in new productideas and to guide its resource support for enhancements to existing products.The company expects Accolade to help it strengthen the alignment betweeninnovation strategies and day-to-day development activity, and to enableimproved global collaboration among cross-functional teams responsible forconception and development of new products. Electrolux will also benefit fromAccolade's capacity to integrate with Microsoft technology, allowing thecompany to extend the use and value of the Microsoft systems deployedthroughout the company's worldwide operations.Sopheon partnered with Arthur D. Little, the global management consulting firm,in pursuing the Electrolux opportunity. Electrolux, Sopheon and Arthur D.Little will work together to implement the new system."We measure innovation by the amount of business and shareholder value itgenerates," said Johan Hjertonsson, director of Electrolux's consumerinnovation program. "Our goal is to continue to lead our industry in revenuesand profits from innovation by supplying the market with a steady stream ofpremium, new-to-the-world products that consumers want. We chose Sopheon'ssolution because it will help us make the right front-end decisions on whichproduct ideas to invest in, and enable us to increase the speed, efficiency andcost-effectiveness of the processes we use to move those product ideas from thedrafting table to the marketplace. Accolade is the most complete tool we'vefound for supporting the business of innovation.""The Electrolux name is synonymous with innovation in the appliance industry,"said Mike Connolly, European director for Sopheon. "And their strategies formaintaining their position of innovation leadership are clearly drawn.Accolade's capabilities are perfectly matched with Electrolux's requirementsfor increasing the visibility and coordination of its global productdevelopment efforts."Sopheon Accolade‚® is a registered trademark of Sopheon plc.Frigidaire, Kelvinator and Eureka are registered trademarks of the ElectroluxGroup.All other trademarks and registered trademarks are the sole property of theirrespective owners.About ElectroluxThe Electrolux Group is the world's leading producer of powered appliances forkitchen, cleaning and outdoor use, such as refrigerators, washing machines,cookers, vacuum cleaners, chainsaws, lawn mowers, and garden tractors. Everyyear, customers in more than 150 countries buy more than 55 million ElectroluxGroup products for both consumer and professional use. In 2005, Electrolux hadsales of SEK 129 billion and 70,000 employees.About SopheonSopheon (LSE: SPE) is an international provider of software and services thathelp organizations improve the business impact of product development. TheSopheon Accolade‚® product development system automates gate- or phase-basedproduct development processes and provides strategic decision support thatallows companies to improve innovation, cut product development spending wasteand shorten time to market. Sopheon is listed on the AIM Market of the LondonStock Exchange and on the Euronext in the Netherlands. For more information,please visit www.sopheon.com.Arif Karimjee, CFO Sopheon plc Tel : + 44 (0) 1483 685 735 Andrew Tan Hansard Communications Tel : + 44 (0) 207 245 1100 + 44 (0) 7957 203 685 Frank Jansen Citigate First Financial Tel : + 31 (0) 205 754 024 ENDSOPHEON PLC