Re Contract

10 Feb 2009 10:53

Artilium plc

Contract with Tata Consultancy Services

Update re funding

Contract with Tata Consultancy Services

The Board of Artilium plc ("Artilium" or the "Company") announces today that it has signed a partnership agreement with Tata Consultancy Services Limited ("TCS"), a leader in IT services and business solutions. 

The non-exclusive agreement is composed of reseller, systems integration, hosted applications service delivery, and applications development components, the net effect of which is a TCS ARTA sales and service delivery capacity and projection.

Part of the Tata Group, TCS is a global IT organisation with over 130,000 consultants in 160 offices across 42 countries, and sales of $5.7 billion (fiscal year ending 31 March, 2008). Gartner named TCS as one of the top-ten global telecoms vendors.

Update re funding 

The Company's management is eager to develop the TCS agreement and other commercial opportunities and is therefore exploring a variety of funding scenarios. These scenarios include the potential cancellation of the Company's shares from trading on AIM which could involve a buy-back and cancellation of some of the Company's shares.

For further information contact:

Artilium plc

Robert Marcus , Chief Executive +32 50 230 300

Deloitte Corporate Finance

Jonathan Hinton/David Smith +44 (0)20 7936 3000