FMJ Formjet (See LSE:TQC)

 

TIDMFMJ 
 
 
Formjet PLC 
19 January 2009 
 
? 
Formjet announces new distribution deals in the Republic of Ireland 
for its 
Panda Security subsidiary 
 
 
Formjet Plc the AIM listed alternative software vendor is pleased to announce 
that it has opened offices in the Republic of Ireland, initially to sell Panda 
Security solutions through two new Ireland-based mainstream distributors, Option 
Electronics Limited and Asbis Limited. 
 
 
Highlights: 
 
 
  *  Panda Software (UK) Ltd takes advantage of terms of Contract signed with Panda 
  International in January 2008 for the extension of its exclusive territory to 
  include the Republic of Ireland. 
  *  Asbis is a major distributor of software in Ireland and throughout Europe. 
  *  Option Electronics will provide accommodation and warehousing to enable fast and 
  cost effective launch into Ireland. 
  *  Distribution agreements take immediate effect for all Panda Security products. 
  *  Locally employed Panda sales and technical support teams will focus on the 
  corporate market with distribution's main focus being retail and consumer 
  channels. 
  *  Cost effective synergies with Crawley office on technical support, product 
  knowledge, training and finance. 
  *  Prepares basis for launch of all of Formjet product ranges into Ireland by end 
  Q2 2009. 
  *  Incremental sales expected for Panda Software (UK) Ltd as a result of this link 
  up. 
 
 
 
Lyndon Chapman Formjet Chairman and Panda Software (UK) Ltd Country Partner 
explained: 
"This is an important development in the Group's continuing expansion of 
cost-effective routes to market. Panda is Formjet's original subsidiary and this 
geographical expansion is extremely encouraging. David West's team at Option 
Electronics allows us instantly to benefit from a tried, tested and 
well-connected sales force that are already operating and respected in their 
local market. Moreover, Asbis is a very important distribution outlet and we are 
delighted to have them onboard. We expect our presence in Ireland to develop 
even more productively in the coming months with the launch of Ability and 
Edalive through Option." He added that 2008 had been a very competitive year for 
the IT security sector with a number of newcomers taking market share. "I am 
therefore delighted that these new distribution deals in our enlarged territory 
will spearhead our ambitions for Panda in 2009." 
 
 
 
 ENQUIRIES: 
 
 
Formjet plc                                                               Tel: 
01293 848 860 
Lyndon Chapman, Executive Chairman 
Tony Lee, Chief Executive 
www.formjetplc.com 
 
 
Dowgate Capital Advisers Ltd                               Tel: 020 7492 4777 
Liam Murray, Nominated Adviser 
www.dowgate.co.uk 
 
 
Old Park Lane Capital                                            Tel: 020 7493 
8188 
Michael Parnes, Joint Broker 
www.oldplc.com 
 
 
Dowgate Capital Stockbrokers Ltd                       Tel: 01293 517 744 
Neil Badger, Joint Broker 
www.dowgate.co.uk 
 
 
 
 
Notes to Editors: 
 
 
Formjet plc 
 
 
Formjet plc is a UK-based company with a highly distinctive business model. It 
acquires territorial rights to 'alternative' software products, and markets, 
sells, distributes and supports these products in place of the vendor in 
worldwide markets. The strategy has at its heart the proposition that the 
Company can acquire product lines in territories of at least one country without 
the expense of either product development or the creation of IPR. 
 
 
 
 
Alternative Products 
  *  Panda Software (UK) distributes Panda Software antivirus and Internet security 
  products in the UK. With its high margins and recurring annual renewal revenues, 
  Panda is an important contributor to the Group's sales and profitability. 
  *  Ability Software International (ASI) distributes a powerful suite of office 
  products which, as well as being sold under their own branding, form an integral 
  part of the white label opportunities that Formjet is creating. Ability Software 
  International has also developed the ASI Business Software range. This comprises 
  eight titles, which include fully comprehensive office and graphics suites, 
  Internet security, a business plan development application, small business 
  accounting, appointment book management and staff records management software. 
  In September the Company also added a remote access tool called BeAnywhere to 
  this range. Significant growth in 2008 and further growth targeted in 2009. 
 
  *  EdAlive edutainment software has opened up a new and growing market for Formjet 
  and now covers a wide range of core subjects including maths, word skills and 
  spelling. 
 
 
 
Alternative Routes to Market 
  *  Formjet Innovations is the specialist distribution arm of the Formjet Group 
  focusing on its alternative product range and associated alternative routes to 
  market. The focus here is on creating "white label" software, targeting retail 
  and brand leaders of importance. 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 NRASFSSAUSUSELF 
 

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