Imaginatik plc Contract Renewals worth £1.1 million

Imaginatik plc, a leading provider of enterprise innovation services including a range of technology products and consultancy, is pleased to announce that during December 2011 all anticipated renewals were contracted, a number of which have been renewed on multi-year contracts.

The total value of all contracts renewed in December 2011, including the contract announced on 22 December 2011 is approximately £1.1m. The Company expects that approximately £0.7m of this revenue will be recognised by the Company in its current financial year, ending 31 March 2012 and expects to have received over £0.9m of the £1.1m in cash by the same date.

The three most significant renewals are with a global consumer products company, a business communications company and the world’s premier manufacturer of agricultural and forestry equipment. The relationships with these clients date back to 2007, 2008 and 2009 respectively.

Matt Cooper, Executive Chairman of Imaginatik, commented, “We are pleased to have extended these relationships with long term clients, each of them leaders in their own specific fields. As well as providing strong revenue visibility these renewals underline our importance to our clients’ operations and the value that our services, products and consultancy provide.”