INNO Innovise

 
TIDMINNO 
 
Innovise Plc 
 
                         ("Innovise" or the "Company") 
 
                        Acquisition and Issue of Equity 
 
The Board of Innovise plc, the AIM-quoted, fast growing software solutions and 
IT services provider, is pleased to announce the acquisition of RapidHost 
Limited, a leading web hosting company based in Marlow, Buckinghamshire, for a 
consideration of GBP0.8 million. 
 
The consideration comprises, on completion, GBP0.2 million in cash and GBP0.35 
million from the issue of 875,000 new ordinary Innovise shares at 40 pence per 
share; the remaining GBP0.25 million will be paid in cash in five quarterly 
instalments, beginning in October 2009. 
 
Formed 10 years ago, RapidHost delivers a wide range of internet services to 
companies throughout the UK using Microsoft SQL Server, MySQL and FileMaker 
technologies. It has an excellent track record for reliability and technical 
expertise, and a strong and growing client base. 
 
Mike Taylor, CEO of Innovise, said: "This is an exciting acquisition for 
Innovise because it enables us to integrate RapidHost's system hosting 
capability within our existing Software Solutions division on attractive terms. 
 
"There are two major gains for the division. First, in our fast-growing 
`software as a service' business, RapidHost will allow us to improve and 
differentiate our offering versus competitors that lack hosting applications. 
Secondly, the addition of system hosting to the remote management capabilities 
of our Managed Service practice means that we can now offer the full spectrum 
of services to existing and new clients," he added. 
 
RapidHost has an annual turnover of approximately GBP0.9 million with an 
operating profit of approximately GBP0.1 million. 
 
Application has been made for the 875,000 ordinary shares to be admitted to 
trading on AIM, and dealings are expected to commence on or around 29 July 
2009. The new ordinary shares will rank pari passu with the existing ordinary 
shares. 
 
Following the above issue of equity, the issued share capital of Innovise will 
comprise 40,806,120 ordinary shares of 1p each. 
 
For further information contact: 
 
Mike Taylor, Chief Executive Officer, Innovise plc        0870 626 0400 
Tony Edwards, Finance Director, Innovise plc              0870 626 0400 
Liam Murray or Jo Turner, Dowgate Capital Advisers Ltd    020 7492 4777 
Ruari McGirr or Mark Anwyl, St Helen's Capital plc        020 7628 5582 
Ian Foster, Wordsworth Communication Ltd                  07739 185 050 
 
 
 
END 
 

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