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Ovum plc (OVM)

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Monday 03 July, 2006

Ovum plc


Ovum plc
03 July 2006

3 July 2006

                                    Ovum plc
        Expansion of research focus with acquisition of US Advisory firm

Ovum plc (OVM.L), a leading provider of research, advisory and consulting
services in the global Information, Communication and Technology (ICT) sector,
is pleased to announce the acquisition of Summit Strategies, Inc., a US based IT
research business.

This is the first acquisition made by Ovum since its IPO in March 2006, and is
in line with its stated growth strategy to build the business and expand its
product offering and expertise both organically and through the acquisition of
specialist, high quality businesses.

Summit Strategies, headquartered in Boston, USA, is a research, advisory and
consulting group focused on the disruptive changes that affect IT vendors'
market, channel and competitive strategies. The offerings of Summit Strategies
are complementary to those of Ovum and fill a gap in the area of utility

Summit Strategies, which generated turnover of $1.9m for the year ended 31
December 2005, has an impressive client base of blue-chip IT companies including
IBM, HP, and Microsoft. The company has been advising the majority of its
clients for more than 10 years. All the analysts of Summit Strategies will be
retained by Ovum and will be supported by Ovum's analyst, customer support and
sales teams.

The acquisition will be satisfied by a total consideration of approximately
$1.2m, which has been satisfied by the issue of 47041 ordinary shares in the
Company with the balance being paid in cash. The acquisition is expected to be
earnings enhancing in the next financial year once the integration of the
business has been completed.

Application has been made for the admission to trading on AIM of a further 47041
Ovum plc ordinary shares of 50p each. It is expected that these new ordinary
shares, which will rank pari passu in all respects with the existing ordinary
shares, will be admitted to trading on AIM on 5 July 2006.

The new ordinary shares have been issued to certain vendors of Summit
Strategies, Inc. pursuant to the acquisition agreement dated 30 June 2006.

Chris Dines, CEO of Ovum, said:

"This acquisition is in line with our stated strategy of mixed organic and
inorganic growth. Summit Strategies brings to us expertise and products in an
important and growing area of the IT market. It allows us to develop a stronger
relationship with blue-chip IT vendor customers and further strengthens our
position in the US market. We have many things in common with Summit Strategies
including culture, approach to customers and quality of work. We look forward to
working with our new colleagues in developing the opportunities that can be
gained through the combination of our businesses."

Tom Kucharvy, President of Summit Strategies, said:

"We are excited to be affiliated with such a respected and professional
organisation and see great opportunities to leverage Ovum's capabilities to
benefit our clients. We plan to use Ovum's deep understanding of software and
service delivery technologies to bring new depth to our industry marketing
analysis, their outsourcing skills to complement our broad IT services focus and
their global perspective to expand our traditional North American focus. We
believe the combination of Ovum and Summit Strategies strengths and focuses will
allow us to bring a much more holistic perspective to our joint clients."


Ovum                                                 020 7551 9282
Chris Dines, Chief Executive

Summit Strategies                                    +617-931-4600
Tom Kucharvy, President

Bridgewell Limited                                   020 7003 3000
Shaun Dobson / Nick Lovering

Hogarth Partnership                                  020 7357 9477
James Longfield / Barnaby Fry / Georgina Briscoe

Copies of the Admission Document have been submitted to the AIM Regulations,
part of the London Stock Exchange ("LSE"). Copies are also available from the
company on request to Tom Carless, Finance Director, Ovum plc, Cardinal Tower,
12 Farringdon Road, London, EC1M 3HS.

                                    - ENDS -

About Ovum

Ovum's primary activity is providing value-added advisory services and
consulting to retained and project clients. The Company acts as a well respected
and trusted source of industry data, knowledge and expertise on the commercial
impact of technology, regulatory and market changes. Ovum engages in continuous
research and industry analysis to determine market dynamics in its specialist

Ovum has developed long-standing relationships with many of its corporate
clients, which include major international blue-chip companies such as: Alcatel,
AT&T, BT, Cable & Wireless, Cisco Systems, Deutsche Telecom, Fujitsu, HP, IBM,
Microsoft, Telstra and Vodafone.

The Company accepts responsibility for the information contained in this
announcement. To the best of the knowledge and belief of the Company (who has
taken all reasonable care to ensure that such is the case) the information
contained in this announcement is in accordance with the facts and does not omit
anything likely to affect the import of such information.

Bridgewell Limited, which is authorised and regulated in the United Kingdom by
the Financial Services Authority, is acting exclusively for Ovum in connection
with the flotation and no-one else. Bridgewell Limited will not be responsible
for providing advice to any person in relation to the flotation and/or the
associated share offer, the contents of this announcement or any other matter
referred to herein.

The Ordinary Shares which are proposed to be offered (the "ordinary shares")
have not been, nor will they be, registered under the United States Securities
Act of 1933 (as amended) (the "Securities Act") and may not be offered or sold,
directly or indirectly, in or into the United States absent registration or an
exemption from registration. There will be no public offer of securities in the
United States.

This announcement does not constitute an offer of, or the solicitation of any
offer to subscribe for or buy, any of the ordinary shares to any person in any
jurisdiction to whom or in which such offer or solicitation is unlawful. The
distribution of this announcement in certain jurisdictions may be restricted by
law and therefore persons into whose possession this announcement comes should
inform themselves about and observe any such restrictions. Any failure to comply
with these restrictions may constitute a violation of the securities laws of
such jurisdiction. The value of shares can go down as well as up. Past
performance is not a guide to future performance. Potential investors should
consult a professional adviser as to the suitability of an investment in the
shares of Ovum for the individual concerned.

                      This information is provided by RNS
            The company news service from the London Stock Exchange