Prodware and Qurius enter into exclusive discussions

Prodware and Qurius enter into exclusive discussions

Qurius issues new shares to Prodware

ZALTBOMMEL/PARIS - February 8th, 2011 - Prodware in France and Qurius N.V. in the Netherlands today announced that they have entered into exclusive discussions. Qurius will issue 11 million new shares to Prodware. Existing shareholders will not be given pre-emptive rights to acquire the newly issued shares. The issued shares represent around 10% of Qurius’ share capital. This will reinforce Qurius’ equity position with € 2.5 million. The outcome of the exclusive discussions will be presented to the shareholders within a period of 7 months at the latest.

The cooperation between Prodware and Qurius matches perfectly the strategies of both companies. They consider that the market for business software and services requires powerful international players with valuable intellectual property delivered through strong local operations.

CEO of Qurius, Mr. Leen Zevenbergen, comments: "The goal of creating a strong international group in software and services is totally in line with our strategy. In 2010 we have restructured our operations and made choices in markets, partners and competences. Now operational excellence and innovation in technology and marketing are key. We have invested strongly in development of our own proprietary solutions and innovative delivery models to our customers."

Founder and President of Prodware Mr. Philippe Bouaziz, explains: "The two companies are planning to operate in closer collaboration with immediate effect across all of their respective business lines and territories. Notably, Qurius will market and distribute Prodware’s proprietary software solutions to its 2,500 business customers across Europe. Prodware will build on Qurius’ broad and deep experience with the Microsoft platforms."

Announcing the news, Mr. Leen Zevenbergen and Mr. Philippe Bouaziz said: "Our teams know each other well as Qurius and Prodware have been working successfully together for several years. The two companies have many common traits in their culture and operations. Both companies share an entrepreneurial spirit and are focused on delivering the best software applications and solutions for business and maximizing value for all stakeholders."

Commenting further, they said: "We will be working on cross-fertilization and identifying synergies. We see great opportunities in combining and sharing R&D facilities, resources, our knowledge base, best operational practices, specific vertical and cloud solutions, our respective geographical presence and addressing cross border customers. We expect this cooperation to bring substantial and immediate value to our business with tangible, positive, effects on our 2011 business plans."

Prodware and Qurius’ combined revenue is around €200 million and, together, the two companies employ more than 1,600 IT professionals serving 17,500 customers from SMB to enterprise accounts across 15 countries in Europe, the Middle East and Africa. By joining forces and achieving

such critical mass, the companies believe they will reinforce their market leadership in providing international customers with unique software and service offers.

Qurius 2010: restructuring and reshaping

After having restructured its operations, Qurius expects to report for 2010 an EBIT result of € -3.2 million excluding € 3.7 million restructuring charges. Last year, Qurius significantly reduced its cost base and reorganized its portfolio to focus on selected vertical markets and specific business sectors and expertise. "In 2010 we have completed essential restructuring to put Qurius back into profit in 2011. This cooperation with Prodware will help us further secure and improve our business outlook for 2011," said Leen Zevenbergen.

Prodware in 2010: opening new markets

Since it was listed on NYSE Euronext (Alternext) in 2006, Prodware has invested heavily in R&D to expand its portfolio of industry solutions and business applications for medium sized business. A significant number of solutions are already best sellers in the retail, services and manufacturing sectors.

Consistent with its strategic plan, Prodware has started to exploit the high growth potential of these solutions by addressing worldwide markets directly and indirectly through the global network of Microsoft partners. The reinforcement of the partnership with Qurius will give Prodware a tremendous opportunity to rapidly market its solutions through Qurius in the Netherlands, Germany, Spain, Belgium and United Kingdom, markets that offer significant potential.