TIDMTPX

Panoply Holdings PLC (The)

26 February 2019

26 February 2019

RNS Reach

The Panoply Holdings PLC

("The Panoply", or the "Group")

Launch of new Group company, TPX human+

TPX Notbinary launches Robotic Process Automation subsidiary

The Panoply Holdings PLC, the digitally native technology services Group, is delighted to announce the launch of TPX human+, a specialist robotic process automation ("RPA") business. TPX human+ has been set up as a subsidiary of TPX Notbinary, one of The Panoply's existing Group companies.

TPX human+ is a provider of robotic process automation services, primarily to the government and not for profit industries. The business has developed organically in response to strong demand from TPX Notbinary's existing customer base, and marks The Panoply's entry into the RPA market, further building out the UK Cluster's set of digital transformation capabilities. Gartner estimates the worldwide market size of RPA C&SI services was $1.5 billion in 2017, growing at over 50% year over year.

The Group has entered into strategic partnerships with Blue Prism, UiPath and Thougtonomy, and TPX human+ will act as an implementation partner to these software vendors as well as providing other related consultancy services. Government and not for profit organisations are increasingly looking at the benefits RPA can bring following the uptake being seen in the private sector.

The Panoply is investing into TPX human+ in line with its strategy to back start-ups with strong management and strong potential for growth. As a subsidiary of TPX Notbinary TPX human+ will be subject to the TPX Notbinary earn-out formula which runs until 31 March 2020.

TPX human+ will be led by David Biden and Ciara MacCooey, who both have a wealth of experience in applying modern technologies into complex business environments. TPX human+ currently has proof-of-concept projects active with a number of large clients, including a university, a county council and a not for profit organisation. TPX human+ are confident that the Group's existing client base and reputation in the government and not for profit sectors will allow them to quickly gain a foothold in the RPA market.

Neal Gandhi, Chief Executive Officer of The Panoply said:

"We know that the demand for RPA services is growing rapidly, and for some time this has been a competency that we have been looking to own within The Panoply. TPX human+ takes an approach which puts the focus on engaging the business stakeholders involved; implementing the right technology and enabling the humans central to its adoption.

"This is the first example of The Panoply having chosen to support the organic growth of a business which has originated from within a current Group company. Allowing our Group companies to remain entrepreneurial and creative has always been a core tenant of The Panoply proposition, and we are excited to see this playing out in reality with the incorporation of TPX human+."

David Biden, Founding Partner at TPX human+ said:

"TPX human+ is being launched in response to our government and not for profit clients wanting an automation partner that not only understands RPA technology but also the impact this can have on their organisations and people. We are seeing great interest from across the Public Sector and the not for profit community as we work with them to understand the efficiency opportunities this technology can bring."

Enquiries:

 
   The Panoply Holdings 
     Neal Gandhi (CEO)                 Via Alma PR 
     Oliver Rigby (CFO) 
 
     Stifel Nicolaus Europe Limited    +44 (0)207 710 7600 
     (Nomad and Broker) 
    Fred Walsh 
     Alex Price 
     Neil Shah 
     Luisa Orsini Baroni 
 
    Alma PR                           panoply@almapr.co.uk 
     (Financial PR)                    +44(0)203 405 0206 
     Josh Royston                      07780 901979 
     Susie Hudson

About The Panoply

The Panoply is a digitally native technology services company, built to service clients' digital transformation needs. Founded in 2016, with the aim of identifying and acquiring best-of-breed specialist information technology and innovation consulting businesses across Europe, the Group collaborates with its clients to deliver the technology outcomes they're looking for at the pace that they expect and demand.

Visit https://www.thepanoply.com for more information

About TPX human+

TPX human+ is a robotic process automation partner for government and not for profit organisations. The company's mission is to drive RPA success through engaging business stakeholders, implementing the right technology and enabling the humans central to its adoption. TPX human+ drives efficiencies across the organisation with the goal of creating a self-sufficient centre of excellence for the future, and helping people focus on more interesting, business-critical work.

TPX human+ partners with RPA leaders such as Blue Prism, Thoughtonomy and UiPath. As a subsidiary of TPX Notbinary, the company has a strong track record in Government and not for profit technology transformation projects.

Visit http://human-plus.co.uk/ for more information

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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February 26, 2019 02:02 ET (07:02 GMT)

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