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PROACTIS Holdings PLC

13 March 2013

 
 Date:              13 March 2013 
 On behalf of:      PROACTIS Holdings PLC ("Proactis" the "Company" 
                     or "the Group") 
 Embargoed until:   0700hrs

PROACTIS Holdings PLC

Entry into the Indian Market through new Joint Venture

   --     New territory for the Group with significant opportunity 
   --     Outsourced procurement services to be provided on the Group's software platform 
   --     Engaged with a global producer of recognised branded products to consumer markets

PROACTIS Holdings PLC ("PROACTIS", the "Group" or the "Company"), a global Spend Control and eProcurement solution provider, announces the launch of its joint venture operation, Proactis Total Procure Private Limited ("PTP"), to provide its services to the growing Indian market.

Indian businesses are increasingly seeking to meet the challenges of competing on a global basis by improving the transparency and reliability of their procurement processes, whilst also, in line with businesses across the globe, seeking to grow profits through reducing costs.

PTP will provide outsourced procurement services to the Indian market, initially incorporating procurement reviews, vendor networking, sourcing and contract management delivered using PROACTIS' established global software platform and its procurement expertise. In the first month of operation, PTP has already engaged in an exploratory project for the provision of these services to a global producer of recognised branded products to consumer markets.

PTP has been established in collaboration with two joint venture partners, Khwantum Capital Private Limited and Avan Projects Private Limited. These partners provide an opportunity to accelerate commercial traction through access to a unique network of decision makers.

Rod Jones, CEO of PROACTIS, commented:

"We are delighted to announce the launch of our operation in India which continues our strategy to increase our presence in new territories and increase our exposure to the SaaS model. The Indian market opportunity is significant and I am excited at the prospect of working with our partners to access it."

End

For further information, please contact:

 
 PROACTIS Holdings PLC 
 Rod Jones, Chief Executive Officer    Via Redleaf Polhill 
  Tim Sykes, Chief Financial Office 
 Redleaf Polhill 
 Rebecca Sanders-Hewett /Jenny Bahr    0207 566 6720 
 
 finnCap Limited 
  Charlotte Stranner                   0207 220 0500

Notes to Editors:

PROACTIS is a leading provider of Spend Control and eProcurement solutions. Hundreds of organisations around the world use PROACTIS software and services to streamline and automate processes and obtain best value and control in procurement.

Source-to-contract solutions: help organisations to automate the full buying cycle from improving the way they find, evaluate and engage suppliers to increasing "on contract" spending and enabling more effective collaboration with their trading network.

Purchase-to-Pay solutions: enable organisations to streamline the purchase to pay process, eliminate labour-intensive manual registration of invoices, speed up invoice matching and approvals and gain control of the "after-the-event" purchase claims.

Widely used in mid-to-large sized organisations across private, public and not-for-profit sectors, PROACTIS is routinely integrated with ERP and financial systems. PROACTIS also offers a range of cloud-based delivery options, including Software-as-a-Service ("SaaS") and dedicated-hosted application delivery, and flexible licensing models.

PROACTIS was founded in 1996 and has been listed on the London Stock Exchange since 2006 (AIM: phd). Headquartered in the UK with direct operations in Europe, North America, and Asia Pacific, PROACTIS also has an extensive global partner network.

About the Joint Venture companies:

 
 Khwantum Capital Private Limited   Indian Company Registration 
                                     number U74910WB2008PTC123792 
 
 Avan Projects Private Limited      Indian Company Registration 
                                     number U27101MH2009PTC196148

This information is provided by RNS

The company news service from the London Stock Exchange

END

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