Formpipe receives order on cloud service for archiving worth SEK 1.3 million

Formpipe receives an order on the ECM product Long-Term Archive from the National Agency for Special Needs Education and Schools. The order value amounts to SEK 1.3 million over a two-year period.

“We can see a gradual increase in the demand for cloud services. This is positive for us as supplier, the revenues are 100 percent recurring and we know from experience that our customers make long-term investments in our products and increase their use over time”, says Christian Sundin, CEO of Formpipe.

Government agencies, municipalities, county councils, regions and public-owned companies need IT systems to facilitate digital archiving without compromising their accessibility to thousands of documents and cases handled within the organization. The public sector is governed by rules and regulations explicitly saying how this information is to be archived and preserved for the future.

“We have for some time drawn attention to an emerging need to get started with archiving solutions in the public sector, it has taken longer than we initially estimated but now we see indications that investments starts to take off”, says Christian Sundin.

For additional information, Contact:
Christian Sundin, President and CEO of Formpipe, +46 705 67 73 85

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This is a translation of the original Swedish version. In the event of any discrepancies between the two versions, the original Swedish version shall take precedence.

The information in this press release is of the kind that Formpipe Software AB (publ) is required to disclose in accordance with the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. This information was submitted for publication on Thursday, December 11, 2014.

Formpipe develops ECM products and solutions for structuring information and supplies them to major companies, authorities and organisations. ECM products help organisations to capture, manage and distribute information, and to place it in context. The company’s software helps improve efficiency, cut costs and reduce risk exposure. Formpipe was founded in 2004 and has offices in Sweden, Denmark, United Kingdom, The Netherlands and USA. The Formpipe share is listed on NASDAQ OMX Nordic, Small Cap.