Shares in FTSE 350 enterprise software group Autonomy Corp (LON:AU.) edged 0.3% lower to 1,825p today despite news of two contract wins. The first involved a seven figure purchase order by the US government to use Autonomy Intelligent Data Operating Layer technology (IDOL), as part of what's expected to be a multi-million dollar project. The second is a significant license agreement with Kraft, again involving Autonomy's IDOL software.
Public sector software and services company Idox (LON:IDOX) has signed a major three-year contract worth £0.5m with the new unitary council of Cheshire West and Chester (CW&C) to deliver its land, property and regulatory management systems. The council is the fourth of seven new local authorities created in 2009 to have selected IDOX to provide their corporate land and property systems. Elsewhere, the company reported a 14% rise in interim pre-tax profits to £2.1m despite a 5% fall in sales to £15.0m. Gross margins were up to 81% from 76% and cash balances rose to £10.9m from £6.0m. The company said it was delivering on a substantial order book and had a good sales pipeline for the remainder of the financial year and beyond.
Meanwhile, Silanis International Ltd (LON:SNS), the company the specialises in electronic signatures, said a major insurance provider for the trucking industry in the US has selected its ApproveIt Web Server, to enable straight-through processing of new customer applications. The insurer will use Silanis’s ESPM solution to change how truckers complete insurance applications while on the road by enabling them to review and sign applications electronically over the web.
Cash-strapped Qonnectis (LON:QTI) is set for a reverse takeover by American Leak Detection Holding Corp and a £1m fundraising in order to breathe new life into its business. Qonnectis, which supplies web-based meter reading technologies for utilities, said that if the deal went ahead it would be renamed Water Intelligence plc. ALD focuses on specialist leak detection, including hidden water and sewer leaks, together with repair and other related services. It wants to use the deal to establish a UK operation and maximise its franchise and corporate run opportunities and drive product innovation. In the 18 months to December 2009 Qonnectis was ravaged by the economic downturn and a forced reduction in staff levels caused revenues to fall to £55,282 from £456,678 in 2008.
Finally, shares in K3 Business Technology Group (LON:KBT) slipped by 0.4% to 119.5p despite news that the enterprise resource planning (ERP) systems business had signed a deal to extend its presence in the rapidly growing Microsoft Dynamics AX marketplace. K3 has entered into a strategic partnership with Omnica Ltd, a Warrington based multi-channel retail software company, to resell Omnica's software which is specifically designed for the new generation Microsoft Dynamics AX platform – and ERP package aimed at mid-size and larger organisations. K3 said the deal would take its AX capability further into the retail sector and in particular with multi-channel retailers where it already has considerable existing expertise with customers such as The White Company, IKEA and White Stuff.