SoftM annual general meeting 2010 approves new name

Munich, 18 June 2010 At the SoftM Software und Beratung AG annual general meeting in Munich, the board set out the company's strategy as a full-service provider for small and medium-sized businesses. The company plans to invest heavily in product development whilst also increasing direct and indirect sales in order to boost its market share. The annual general meeting approved the decision to rebrand the company as Comarch Software und Beratung AG and thereby increase the focus on the Comarch brand.

As part of the process of integrating the company into the Comarch Group, which became the majority shareholder in November 2008, yesterday's annual general meeting approved a name change for SoftM Software und Beratung AG. The product range and subsidiaries were rebranded in 2009, so this decision will complete the shift to the Comarch brand. Ralf Gärtner, Director of Sales and Marketing, set out the benefits of a brand focus at the annual general meeting: - All the value created under the SoftM name over the last thirty-plus years – software and IT solutions tailored to the needs of small and medium-sized businesses – is being transferred to the international Comarch brand. This will improve our competitive edge and we will be able to benefit from the Comarch Group's considerable investment in the corporate brand.

Chief executive Piotr Piatosa explained the company's portfolio strategy at the annual general meeting: We provide a full range of services for small and medium-sized enterprises. In tandem with a comprehensive product and service palette, which extends from ERP, accounting, business intelligence, document management and EDI solutions through to IT infrastructure, hosting and SaaS products, our 13 locations give us a strong presence in the German-speaking market. We have improved our sales and service resources and are expanding our network of sales partners. This puts us in a strong position to increase our market share.

Reporting on 2009, after describing the performance and results in a difficult year, CFO Ludwig Ametsbichler highlighted the high levels of investment, notably in software development. Total software development costs came to EUR 9.7 million in 2009, equivalent to 25% of annual revenue. The CFO stressed the importance of development projects to extend the Java-based ERPII software Comarch Semiramis, for a fully-integrated accounting system within Semiramis, and enhancements to the InfoStore document management software. The work of development teams in Germany, Austria and Switzerland was supported by Polish teams.

The annual general meeting also included the statutory vote to appoint the Supervisory Board. Existing Board members Prof. Janusz Filipiak and Konrad Taranski were re-elected. A former member, Prof. Dr. Hans Zangl, was elected to the new Supervisory Board. The chairman of the Supervisory Board, Dr. Hannes Merten, did not seek re-election.

Share