Leading enterprise content management company, Objective Corporation

Limited today announced the acquisition of Limehouse Software Limited.

Limehouse is a market leader in collaborative content creation, publishing

and stakeholder consultation solutions for local government in the United

Kingdom and has an emerging presence in North America.

Objective has acquired 100% of the issued capital of Limehouse for £3.18 m,

with an additional performance-based earn-out of up to £1.42 m contingent

on achieving FY2010 benchmark results.

Limehouse’s full year revenues to 30 June 2009 are expected to be in the

range of £3 to £3.5m. The acquisition is expected to be earnings per share

positive and will be funded from existing cash reserves and new facilities.

The acquisition extends Objective’s market share and capability in the Public

Sector market, where its products help customers improve the efficiency of

their operations and record keeping obligations. Limehouse has over 250

customers, including approximately 200 in the United Kingdom local

government sector and over 35 in North America.

Objective Corporation is a publicly quoted company on the Australian Stock Exchange (ASX, ticker OCL).

Nick Kingsbury advised the buyer, Objective Corporation Limited, for whom he also serves as a director.

See full release

See also report by Ovum Group