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Interregnum plc advises MTI on sale of Chevin


16 March 2005 -- Interregnum plc (“Interregnum”), the technology merchant bank, today announces that it has advised on the sale of Chevin Ltd (“Chevin”), a security and systems management company, on behalf of MTI Partners (“MTI”), the UK's leading early-stage hi-tech institutional venture fund, to Allen Systems Group (“ASG”), a US provider of enterprise software and professional services, for an undisclosed amount. Interregnum negotiated the successful sale of the company for a significant multiple of revenues.

The sale of Chevin is expected to generate significant undisclosed advisory revenues for Interregnum in the current financial year.

Interregnum assessed the value of Chevin - using its proprietary methodology, The Four Pillars of Value© - and then identified the most appropriate acquirer for the company. This transaction reflects Interregnum’s capability to take a pre-profit early-stage UK company and negotiate its sale to one of the world’s largest independently-owned software companies, creating significant returns to Chevin’s shareholders.

Commenting on the transaction, Ken Olisa, Chief Executive of Interregnum, said:

“The sale of Chevin represents a classic merchant banking deal for Interregnum, drawing on our technology expertise and corporate finance skills to transform technology into wealth for all parties involved. The deal is an exemplar of the consolidation in the technology market as larger companies seek to find value through acquisition of smaller IP-based businesses.”

Ernie Richardson, CEO of MTI, added “Interregnum’s creativity and its deep sector knowledge have been integral to identifying the perfect home for Chevin. ASG is an excellent fit, allowing shareholders of Chevin to share in the future value created by this world class technology as it enters the global marketplace.”


About Interregnum plc
Interregnum plc (www.interregnum.com) is a technology merchant bank listed on London's Alternative Investment Market (symbol: ITR). Established in 1992, Interregnum buys, sells, advises, invests in and operates technology companies. Its advisory services include corporate finance, IP exploitation and commercial due diligence. The company's clients are principally corporates, government, technology entrepreneurs, advisors and investors.


About MTI
MTI (www.mtifirms.com) is one of the UK’s leading providers of specialist venture capital to UK technology companies that are at an early stage in their development or recovery. Its strength lies in its appreciation of hi-tech companies, coupled with the experience to provide quality business advice. All its executives are well-qualified technologists who have a passion for helping young companies, and their management teams, evolve and grow. They have enjoyed success in commercial business environments at the most senior levels of management before joining MTI.

MTI's overriding motivation for investment is a company's potential for commercial success, determined by the quality of its technology, potential market, and the calibre of its management. The Company has been supporting UK early stage technology since 1983, and is currently actively investing from its fourth, £105m, fund. It typically provides between £1 million and £5 million, with return on investment sought principally in the form of capital gain over a 3 to 7 year period.

Recent example investments made by MTI include Powerlase, Eleksen and ApaTech, and recent major realisations include Sarantel and Advanced Composites Group.


About ASG
Founded in 1986, ASG is a privately held global enterprise software and professional services firm that provides a full range of software solutions in the Metadata Management, Security Management, Applications Management, Operations Management, Information & Data Management, Performance Management, and Infrastructure Management arenas. ASG is headquartered in Naples, Florida, USA, with more than 45 offices serving<


Publisher Contact Information:

Interregnum
+44 (0)20 7494 3080
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