Imaginatik plc

February 21, 2008 10:00 ET

Imaginatik to Fund Expansion With Investment of Up to GBP500,000 by Pfizer

LONDON, UNITED KINGDOM and BOSTON, MASSACHUSETTS--(Marketwire - Feb. 21, 2008) - Imaginatik plc (AIM:IMTK), a leading provider of innovation and collaborative problem-solving software and processes, is pleased to announce today that Pfizer Inc ("Pfizer"), the global pharmaceutical company and a customer of Imaginatik, has agreed to subscribe up to GBP500,000 for new ordinary shares of 0.0625p each in the Company (the "Subscription Shares") (the "Subscription"). The funding will be used to expand Imaginatik's enterprise social networking and collaboration technology to further improve the Company's offering in this sector.

Pfizer's R&D division has been using Imaginatik's software since 2005. At this time, in addition to the equity investment, Pfizer Inc. is purchasing 10,000 new licences of Imaginatik's Idea Central software, to evaluate the use of the software in other units within the company. This expansion in the user base brings the total number of Imaginatik's Idea Central subscribers within Pfizer to 25,400.

Mark Turrell, CEO of Imaginatik plc, commented, "Our customers embrace collaborative innovation and use Imaginatik's technology to tap into the wisdom and insights of their employee base and extended enterprise partners. Pfizer's equity investment provides capital for our company at a critical growth phase and supports the value of Imaginatik's enterprise social networking software and overall business vision."

About Imaginatik

Imaginatik is the leading provider of innovation and collaborative problem solving software and process to the world's leading companies. More than 100 clients rely on Imaginatik's software, consulting and research to enable their best-of-breed innovation activities.

Named as a World Economic Forum Technology Pioneer for 2008 and a finalist for the IBM Lotus Awards 2008 in the Best Industry Solution category, Imaginatik's software and consulting services have helped clients discover significant sources of additional revenue, as well as tangible cost savings, process improvements and increased product pipeline. Imaginatik is also committed to developing strategic solutions in the field of innovation, working with academic institutions such as the London Business School and the Cass School of Business, London, as well as leading practitioners of corporate innovation.

Contact Information

  • Imaginatik plc
    Mark Turrell
    +44 (0)20 7917 2975
    Imaginatik plc
    Shawn Taylor
    +44 (0)20 7917 2975
    US media relations
    Adam Dubitsky
    (202) 652-2250