TMT Investments PLC Portfolio company update (1044J)

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RNS Number : 1044J

TMT Investments PLC

30 November 2018

TMT INVESTMENTS PLC

("TMT" or the "Company")

Portfolio company update

TMT Investments PLC (AIM: TMT.L), the venture capital company investing in high-growth technology companies across a number of core specialist sectors, is pleased to announce that on 29 November 2018, its portfolio company Wrike (www.wrike.com), the collaborative work management platform for high-performance teams, announced that it had signed a definitive agreement to receive a majority investment from Vista Equity Partners, a leading investment firm focused on software, data and technology-enabled businesses.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

About Wrike

Wrike is the collaborative work management platform for market leaders. The Wrike platform brings out the best in teams by giving them a single digital workplace with all the tools, features, and integrations they need to do transformative work. It connects the C-suite to front line work with business intelligence and insights, enabling operational excellence. Founded in 2006 and headquartered in Silicon Valley, Wrike is the partner of choice for 18,000 organizations, including Google, Tiffany and Company, and Edelman, and nearly two million users across 130 countries. For more information: www.wrike.com.

About Vista Equity Partners

Vista Equity Partners is a U.S.-based investment firm with offices in Austin, Chicago, New York City, Oakland, and San Francisco with more than $44 billion in cumulative capital commitments. Vista exclusively invests in software, data and technology-enabled organizations led by world-class management teams. As a value-added investor with a long-term perspective, Vista contributes professional expertise and multi-level support towards companies to realize their full potential. Vista's investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity. For more information, please visit www.vistaequitypartners.com.

For further information contact:

 
TMT Investments PLC           +44 (0)1534 281 800 
 Alexander Selegenev           (Computershare - Company Secretary) 
 Executive Director 
 https://tmtinvestments.com    alexander.selegenev@tmtinvestments.com 
Strand Hanson Limited 
 (Nominated Adviser) 
 Richard Tulloch 
 James Dance 
 Eric Allan                   +44 (0)20 7409 3494 
Hybridan LLP 
 (Broker) 
 Claire Louise Noyce          +44 20 3764 2341 
Kinlan Communications         +44 20 7638 3435 
 David Hothersall              davidh@kinlan.net

About TMT Investments PLC

TMT Investments PLC invests in high-growth technology companies across a number of core specialist sectors and has a significant number of Silicon Valley investments in its portfolio. Founded in 2010, TMT has invested in over 40 companies to date and has latest announced net assets of US$82m. 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. https://tmtinvestments.com

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