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Knowledge Technology (ARC)

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Thursday 22 May, 2008

Knowledge Technology

Sale of MT Information Base

RNS Number : 0842V
Knowledge Technology Solutions PLC
22 May 2008
 



Knowledge Technology Solutions plc ('KTS', 'the Company')

Sale of Market Terminal subscription service information base


As alluded to in the interim statements for the six months ended 31 December 2007, KTS today announces that it has agreed to sell its Market Terminal subscription service information base to Ionic Information Ltd ('Ionic') for a minimum consideration of £50,000 payable in cash upon completion. Further payments will be made dependent on the number of Market Terminal subscribers who sign up to Ionic information's Alpha Terminal. KTS will cease the Market Terminal service from Friday, 29 August 2008.  In additionIonic will contribute £10,000 per month to the running costs of Market Terminal in the three months to 29 August 2008.


KTS retains ownership of the Market Terminal intellectual property (IP), which is currently being used to deliver the solution to Borse Berlin/Equiduct, the new pan- European stock exchange, for a real - time market data and full order book web portal. 


The disposal of the loss making subscription business reduces operating costs and enables management to concentrate on developing the successful Arcontech trading and market data software businesses incorporating Market Terminal IP.


Enquiries:


Arcontech/KTS


Andrew Miller, Chief Executive Officer

Tel: + 44 (0) 207 256 2300



Blue Oar Securities Plc


Mike Coe / Marc Davies

Tel: + 44 (0) 117 933 0020



Notes for Editors


Knowledge Technology Solutions PLC is a leading provider of real-time market data solutions. KTS has been established in London's financial district, the City, since 1999 and is a public company listed on AIM, a market operated by the London Stock Exchange (ticker symbol: KTS). In 2007, KTS acquired Arcontech Ltd., a specialist in real-time market data distribution and trading systems as part of its strategic initiative to provide enterprise level systems for the financial markets.


The Board is planning to change the name of the company to Arcontech Plc at the AGM in December 2008.


For more information please visit www.arcontech.com and www.ktsplc.com


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