Contract Extension

RNS Number : 9584D

Imaginatik PLC

11 December 2009

 



11 December 2009 

Imaginatik plc

("Imaginatik" or the "Company")

Imaginatik Expands Innovation Software Contract with Chubb

Imaginatik plc (AIM:IMTK), a provider of collaborative innovation software and processes, is pleased to announce that it has signed a two year contract extension with The Chubb Corporation (NYSE: CB), the major global provider of property and casualty insurance products and services. No financial details have been disclosed.

Imaginatik's collective intelligence software platform and consultancy services have been supporting Chubb's innovation programme since 2008, being used for idea management, new product development and cost reduction. Imaginatik's software, Idea Central, has facilitated open innovation by enabling collaboration between suppliers, agents and brokers. 

Mark Turrell, CEO of Imaginatik plc, commented, "Both Chubb and ourselves have been delighted with the significant levels of returns on investment achieved to date, and with the high levels of employee engagement and use of the tool for open innovation. We are pleased to be extending the use of our technology further within the Chubb organisation, evidence of the importance of our software and processes in supporting their business for a further two years. 

"With a strong pipeline of new business and contract renewals scheduled for the remainder of the financial year, and with collaborative innovation and collective intelligence moving into the mainstream, we continue to look to the future with confidence." 

For further information please contact:  

Imaginatik plc	Tel: [phone]
Mark Turrell, CEO / Shawn Taylor, CFO
Arbuthnot Securities Limited	Tel: [phone]
Tom Griffiths
ICIS	Tel: [phone]
Caroline Evans-Jones / Hilary Millar

About Imaginatik

Imaginatik is a leading provider of Collective Intelligence solutions, including Collaborative Innovation, Open Innovation and Idea Management technology and services. Some of the world's leading companies use Imaginatik's Idea Central software platform to identify and develop the important ideas and strategies that will drive the future of their business. For more than 10 years, Imaginatik has helped customers including CSC, Pfizer, Boeing, Chubb and Cargill achieve outstanding results with the experience of its consulting team and highly configurable web-based software.

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, UK. In 2009, Imaginatik was named as one of the 500 fastest growing technology companies in the EMEA region by Deloitte. Imaginatik is committed to ongoing research into the nature of human networks, innovation and collective intelligence. The Company collaborates with several academic institutions including the IXL Center at Hult International Business School.

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