SOURCE: Diligent Board Member Services

Diligent Board Member Services

September 05, 2011 17:00 ET

Diligent Board Member Services Signs Virgin Money UK as Part of Record-Breaking Q2 Growth

NEW YORK, NY--(Marketwire - Sep 5, 2011) - Diligent Board Member Services (NZX: DIL), the world's leading provider of board portals, is proud to announce Virgin Money UK as a new client, joining an increasing number of financial services companies now using the Diligent Boardbooks® platform. Following a fourth consecutive record-breaking quarter of growth, Diligent now supports more than 1000 boards, many of which have incorporated the popular Boardbooks for the iPad application.

"We required a board portal that supported the Apple iPad, was easy to use and provided strong security," said Andrew Willey, head of the CEO's Office at Virgin Money. "Diligent Boardbooks met and exceeded these criteria and performed at a level that we could not find in other board portal solutions for the iPad. Their client support services have also been excellent in getting us up to speed on the system."

"A key driver of our record-breaking revenue growth is our Apple iPad application," said Alex Sodi, president and CEO of Diligent. "Since introducing Boardbooks for the iPad we have experienced unparalleled demand for the product. We expect this to continue to increase as the iPad 2 and other e-reader devices generate a high level of interest across the globe."

Diligent recently announced an additional net annualized license fee income of $US 2.94 million for the second quarter of 2011, a 326% increase from the second quarter of 2010. Diligent now serves 653 public and private companies, comprising over 1,000 boards and 16,500 individual users on the Diligent Boardbooks platform; including 104 Fortune 1000 companies.

About Diligent Board Member Services, Inc (NZX: DIL)
Diligent Board Member Services is the global leader in board portals, providing company directors, executives and administrators with an easy-to-use system of compiling, viewing, monitoring and archiving materials within a Software-as-a-Service (SaaS) model.

About Virgin Money:
Virgin Money is Virgin's financial services arm and was established in 1995 as a joint venture between the Virgin Group and Norwich Union. Virgin Money currently has over 2.5 million customers and offers Payment Cards (Credit Cards & Prepaid Cards), Savings and Investment products (Stakeholder Pensions, Children's Pensions, Employers Pensions, FTSE Tracker ISA, Bond & Gilt ISA, Climate Change ISA, Cash ISA, and Unit Trusts), General Insurance products (Motor, Home, Travel, and Pet) and Life Assurance products to the UK market.

This document contains forward-looking statements within the meaning of the safe harbor provisions of the Securities Litigation Reform Act of 1995. Terms such as "expect," "believe," "continue," and "grow," as well as similar comments, are forward-looking in nature. Although the Company believes its growth plans are based upon reasonable assumptions, it can give no assurances that such expectations can be attained. Factors that could cause actual results to differ materially from the Company's expectations include: general business and economic conditions, competitive factors, raw materials purchasing, and fluctuations in demand. Please refer to the Company's Securities and Exchange Commission filings for further information.

Contact Information

  • Media Contact:
    Al Percival
    Global Operations Director