Contract Extension (0876Q)

TIDMIMTK

RNS Number : 0876Q

Imaginatik PLC

13 October 2011

Imaginatik plc

("Imaginatik" or the "Company")

Contract Extension with Leading US Insurer

Imaginatik plc (AIM: IMTK), a leading provider of innovation management software and consultancy, is pleased to announce it has won a significant contract extension with an existing customer with a value of approximately $0.95m. The customer is one of the leading auto, property and casualty insurance companies in the US. The original contract with the customer was awarded in September 2009.

The customer will continue to utilise Imaginatik's software and services to support its enterprise-wide innovation programme focused on cost-reduction, process improvement and product development. Imaginatik's newly enhanced product platform, Innovation Central, will enable the customer's 140,000 employees and network of agents to continue to participate in its highly successful innovation programme.

Matt Cooper, Executive Chairman of Imaginatik, commented, "We are delighted to have secured the extension of this significant contract which is testament to the quality of our offering and demonstrates the value customers place on our services. This is further evidence that the turnaround of the Company remains firmly on track and gives us confidence on the long-term prospects of Imaginatik."

For further information please contact:

 
 Imaginatik plc                         Tel: 020 7917 2975 
 Matt Cooper, Executive Chairman / 
  Shawn Taylor, CFO 
 
 Arbuthnot Securities Limited           Tel: 020 7012 2000 
 Tom Griffiths 
 
 Threadneedle Communications            Tel: 020 7653 9850 
 Caroline Evans-Jones / Hilary Millar

About Imaginatik

Imaginatik provides Innovation and Idea management solutions comprised of consultancy, software and program management to deliver innovation outcomes to companies such as The Chubb Group of Insurance Companies, Boeing, Pfizer, Goodyear, Paccar, Kellogg and Cargill. Few companies possess the internal capability to consistently generate fresh ideas, identify those worth pursuing and reliably transform them into real, value-enhancing assets. This is Imaginatik's area of expertise.

Imaginatik is a public company whose shares are traded on the AIM market of the London Stock Exchange (LSE:IMTK.L) and a World Economic Forum Technology Pioneer with offices in Boston, MA, and London. In 2009, Imaginatik was named as one of the 500 fastest growing technology companies in the EMEA region by Deloitte. For more information visit www.imaginatik.com.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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