RS2 Software plc - New Agreements

Tuesday, April 2nd, 2013

On 2 April 2013, RS2 Software plc announced that its fully-owned subsidiary, RS2 Smart Processing Ltd (responsible for operating the newly launched managed services) concluded its first major contract with one of the largest payment processors in Europe. RS2 Smart Processing Ltd will assist this payment processor in its operations across Europe, North America, Latin America and Asia Pacific. The agreement is for an initial three years with the possibility of further extensions beyond this period. During the duration of the contract, which was signed on 4 March 2013, the RS2 Group will be generating regular monthly income in line with the Group’s long-term strategy of diversifying its revenue streams. The operations with respect to this agreement are expected to commence in the early part of the second quarter of 2013.

Furthermore, RS2 also announced the third licence agreement for 2012 with a North American client worth USD1.8 million. The deal was concluded in the fourth quarter of 2012.

Both agreements were initially mentioned in an announcement dated 16 November 2012 when the contracts were in an advanced stage of negotiation. The November announcement also included reference to the other two licence and service contracts conclude in 2012 – a €5 million licence and service contract awarded by a major service provider in Latin America as well as a €1.5 million licence and service contract with a major European payment service provider of e-payment solutions.

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