TMT Investments PLC Investment in Quote Roller, Inc. (1558M)
July 14 2014 - 2:00AM
UK Regulatory
TIDMTMT
RNS Number : 1558M
TMT Investments PLC
14 July 2014
14 July 2014
TMT INVESTMENTS PLC
("TMT" or the "Company")
Investment in Quote Roller, Inc.
TMT Investments PLC, which invests in high-growth,
internet-based companies across a variety of sectors, is pleased to
announce the completion of an investment in Quote Roller, Inc.
(www.quoteroller.com, www.pandadoc.com).
Incorporated in Delaware and headquartered in South San
Francisco, California, Quote Roller, Inc. ("QR") is behind two
business productivity SaaS products: Quote Roller and PandaDoc.
Both products help improve efficiency and productivity of business
development and sales teams across various industries.
Quote Roller automates the assembly and delivery of business
proposal quotes, providing a host of interactive features such as
allowing feedback from potential clients, integration of
interactive content, pricing and content modules, time spent
perusing each section of the proposal and tracking facilities.
PandaDoc automates the electronic delivery and execution of any
contract-related documents in virtually any format. In addition to
increased efficiencies, PandaDoc offers high-value analytical
features including not only knowing exactly when a document is
opened, commented on or signed, but also how long the counterparty
spent considering each section. Both products are integrated and
will soon be merged under the PandaDoc name.
According to IDC, the US$18 billion CRM market has a compound
annual growth rate of 12%, with cloud-based services being the
norm. Gartner estimates that the share of the CRM market will grow
from the current 35% to 50% of the total SaaS market by 2016.
The electronic signature software market alone exceeded US$359
million in 2013. The document management market is estimated at
more than US$50 billion (Gartner).
TMT's investment consists of a US$400,000 unsecured convertible
promissory note in QR ("Note") on the following terms:
-- Interest rate - 2% per annum.
-- Term - unless previously converted, the Note will be
repayable in whole or in part at par at the option of investors
holding a majority of the Note on any date after the second
anniversary of the Note.
-- Conversion -
o Automatic conversion: Any outstanding principal and unpaid
accrued interest on the Note will be automatically converted into
QR's equity securities upon closing of the next equity financing at
an equity valuation equal to the lower of (a) the equity valuation
of QR applicable to the next equity financing or (b) US$10,000,000
for the whole of QR's fully diluted common stock.
o Optional conversion: Prior to a change of control of QR or at
any time after the second anniversary of the Note, any outstanding
principal and unpaid accrued interest on the Note may be converted
at an option of TMT at an equity valuation equal to US$10,000,000
for the whole of QR's fully diluted common stock.
QR's founders Mikita Mikado (CEO) and Serge Barisyuk (CTO) have
been working together for over seven years. Prior to developing
Roller and PandaDoc, Serge and Mikita founded Coding Staff, a
software development company managing more than 30 employees.
Besides sharing the experience of founding and managing three
companies, both founders bring extensive technological and
engineering experience. Serge and Mikita are graduates from the
Belarusian State University of Radio Electronics and Computer
Science.
Definitive agreements for the transaction were entered into, and
the transaction was completed, on 11 July 2014.
For further information contact:
TMT Investments Plc +44 1534 281 843
Mr. Alexander Selegenev alexander.selegenev@tmtinvestments.com
www.tmtinvestments.com
ZAI Corporate Finance Ltd.
NOMAD and Broker
Richard Morrison/Irina Lomova +44 20 7060 2220
Kinlan Communications Tel. +44 20 7638 3435
David Hothersall davidh@kinlan.net
About TMT Investments
TMT Investments PLC invests in high-growth, internet-based
companies across a variety of sectors and has a significant number
of Silicon Valley investments in its portfolio. Founded in 2010,
TMT has raised USD30m and invested in over 30 companies to date.
The company's objective is to generate an attractive rate of return
for shareholders, predominantly through capital appreciation. The
company is traded on the AIM market of the London Stock Exchange.
www.tmtinvestments.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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