Comino Group PLC - Re Joint Venture
May 03 2000 - 2:02AM
UK Regulatory
RNS Number:9041J
Comino Group PLC
3 May 2000
COMINO GROUP PLC : ACQUISITION IN JOINT VENTURE
#1m Invested in formation of Comino Montal Ltd. extends Comino customer base
Comino Group plc ("Comino"), a leading provider of software solutions for the
housing, occupational pensions and local government sectors, announces that it
has established a joint venture with the Directors of Montal Computer Group
Limited ("Montal") to provide Applications Software Provision ("ASP") to its
growing user base. Comino has invested #1m for its half share in the new
company.
The joint venture, to be called Comino Montal, takes in an existing profitable
operation and will extend Comino's customer base - particularly into smaller
Housing Associations.
It will provide ASP, Internet Service Provision ("ISP"), and remote network
management initially to approximately 80 existing customers, 30 of whom are in
housing.
Already a contract has been awarded for the first ASP product which will make
Comino's Housing Management software available to smaller Housing Associations
who cannot justify an independent system. There are over 1000 housing
operations in this category, in addition to the 200 plus Housing Associations
already serviced by Comino.
The joint venture is part of Comino's intention to provide infrastructure to
its existing customer base and will provide the essential networking
facilities for homeworking and remote access to customer systems. Comino
Montal will now seek an agreement with a major telecommunications provider to
give customers 'distance independent pricing' for connection to the network
and the services it provides.
Commenting, Garth Selvey, Chief Executive of Comino Group said: "We chose
Montal because they are an established and respected service provider.
Montal's engineering and networking services together with Comino's software,
will allow us to provide effective ASP support direct to the customer's
desktop.
Montal Computer Group is a privately-owned company based in Dorking with a
turnover of approximately #7m. The Group principally provides hardware
maintenance and network services.
For further information contact:
Garth Selvey, Chief Executive, Comino Group plc 01628 525 433
END
JVEKKBKKFBKDAPK
Cmo (LSE:CMO)
Historical Stock Chart
From Jun 2024 to Jul 2024
Cmo (LSE:CMO)
Historical Stock Chart
From Jul 2023 to Jul 2024