Print   



25 November 2008

FORMJET PLC

('FORMJET' OR 'THE COMPANY')

(AIM:FMJ)

THE CARPHONE WAREHOUSE SOFTWARE AGREEMENT

The Board of Formjet plc, the AIM listed alternative software vendor, is pleased to announce that versions of its Ability and Panda Software will be preinstalled on computers provided by The Carphone Warehouse as part of its broadband offering. The software will be free for a 30 day period following which users can unlock the full version on their computer.

This is a groundbreaking contract for Formjet, opening up exciting new channels for the Company. The deal will provide significant branding opportunities together with the potential for renewals and upgrades once the 30 day period elapses.

HIGHLIGHTS

• Formjet's Ability Office and Panda Internet Security software to be pre installed on up to 100,000 computers per month; and

• Once the 30 day period has expired there will be opportunities for Formjet to benefit from upgrades and renewal contracts.

Versions of Formjet's Ability Office and Panda Internet Security will be preinstalled on computers provided by The Carphone Warehouse as part of its broadband offering. Initially the software will be installed in up to 100,000 computers a month, with the potential to reach 1.2 million customers a year.

Once the 30 day period expires, customers have the option to purchase the full product. There is potential for Formjet to boost its recurring revenues while margins will be protected thanks to its royalty based model. There will also be scope for Formjet to sell its other software titles to the enlarged customer base.

Lyndon Chapman, Executive Chairman of Formjet commented: 'We are delighted to have secured such a high profile deal. The fact that The Carphone Warehouse awarded Formjet this contract in the face of stiff competition highlights the strength of our product offering.'

---ENDS---

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  

Bishopsgate Communications Ltd         Tel: 020 7562 3350

Maxine Barnes

Nick Rome

www.bishopsgatecommunications.com

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 a major 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.

• 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. 

ENDCNTFGMZMNDVGRZM