Maxima Holdings plc

Re: QAD Agreement

Maxima Holdings plc ("Maxima" or "the Company"), the IT business systems and managed services company, has today been advised that its agreement with QAD Europe BV for distribution of QAD Enterprise Software will not be renewed when it expires on 31 January 2010.  Whilst Maxima has been an award winning distributor for QAD and is the only distributor of QAD software in the UK and Ireland, Maxima has been informed that, following a change to QAD's business model, QAD will service its clients directly from 1 February 2010. 

Maxima continues to have Distribution Agreements and strong relationships with other leading enterprise software vendors including Microsoft, SAP and Oracle and will be redirecting its resources to mitigate the impact of QAD's decision. As announced on 24 September at the time of its AGM, the Company's focus on further improvement in service and solution delivery continues to win new business and the Directors are pleased with the progress of the Group. 

Despite this progress and the mitigating actions to be taken, the Directors expect this decision by QAD to have an adverse effect on revenues and profits for the current financial year. At this time, the Directors estimate the impact on current year adjusted operating profits to be up to £1.3m. A further update on current trading will be issued following Maxima's half year ending 30 November 2009, in mid-December.

For further information please contact:  

Editor's Notes
For further information please contact:
Victoria Franks, Marketing Manager
+44 (0)1242 211 284
marketing@maxima.co.uk