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June 14, 2007

InVision IPO: Issue Price Fixed at Euro 32

AD-HOC NOTICE ACCORDING TO § 15 WpHG

The shares of InVision Software AG will be issued at Euro 32.00 per share. All 1,077,000 offered shares of InVision have been successfully placed. Including the overallotment, the issue volume will thus be Euro 34.5 million. InVision gross around Euro 22.9 million in proceeds from the IPO.


DISCLAIMER

This publication does not constitute an offer to sell or a solicitation of an offer to buy or subscribe for any securities. The offer is closed and the shares have been placed.

This publication and the information contained herein is not for distribution, neither directly nor indirectly, in or into the Unites States of America, Canada, Australia or Japan.

This publication does not constitute an offer for sale of any securities into the United States. Securities, including any shares of InVision Software AG in the course of the offer, may not be offered or sold in the United States or to, or for the account or benefit of, US persons (as such term is defined in Regulation S under the Securities Act of 1933 as amended (the “Securities Act”)) unless they are registered under the Securities Act or exempt from registration. There will be no registration or public offer of any securities of InVision Software AG in the United States.


June 14, 2007

InVision IPO: Issue Price Fixed at Euro 32

  • 1,077,000 shares have been successfully placed

The shares of InVision Software AG will be issued at Euro 32.00 per share. All 1,077,000 offered shares of InVision have been successfully placed. Including the overallotment, the issue volume will thus be Euro 34.5 million. InVision gross around Euro 22.9 million in proceeds from the IPO. The free float will reach approx. 48 percent if the greenshoe option will be completely exercised. InVision’s founders will thus retain their majority stake in the company.

Of the 1,077,000 shares 714,996 shares result from a capital increase and 221,530 shares result from a secondary placement. To provide the greenshoe, up to 140,474 additional shares have been made available by the current shareholders. The share capital of InVision Software AG will comprise 2,235,000 shares after the capital increase has been implemented. Allocation of the shares will take place on 15 June 2007. The commencement of trading on the official market (Prime Standard) of the Frankfurt Stock Exchange is scheduled for Monday, 18 June 2007. WestLB AG is acting as the Sole Lead Manager and Sole Bookrunner for this IPO. M.M.Warburg & CO KGaA is the Co-Lead Manager.

InVision’s core business consists in developing and marketing software solutions that support companies in optimising the deployment of their staff (Workforce Management). Since 1995 InVision has been developing software-supported solutions for highly complex optimisation problems and considers this to be an essential part of its competitive edge. Optimised employee scheduling can cut an enterprise’s staff costs because an optimum number of employees is on duty at all times. In this way InVision´s customers usually achieve return on investment within 6 to 12 months. Moreover, optimised staff planning also ensures satisfied customers who, for example, no longer have to spend precious time queuing at the checkout. And it means motivated employees, whose preferred working hours are taken into account as far as possible in the optimisation process.

  • International Securities Identification Number (ISIN): DE0005859698
  • Securities Code No. (WKN): 585969
  • Ticker Symbol: IVX
  • Common Code: 030194381


DISCLAIMER

This publication does not constitute an offer to sell or a solicitation of an offer to buy or subscribe for any securities. The offer is closed and the shares have been placed.

This publication and the information contained herein is not for distribution, neither directly nor indirectly, in or into the Unites States of America, Canada, Australia or Japan.

This publication does not constitute an offer for sale of any securities into the United States. Securities, including any shares of InVision Software AG in the course of the offer, may not be offered or sold in the United States or to, or for the account or benefit of, US persons (as such term is defined in Regulation S under the Securities Act of 1933 as amended (the “Securities Act”)) unless they are registered under the Securities Act or exempt from registration. There will be no registration or public offer of any securities of InVision Software AG in the United States.


June 12, 2007

InVision: Price Range Between Euro 32.00 and Euro 38.00

  • Commencement of trading on Prime Standard scheduled for 18 June 2007 
  • Issue volume up to Euro 40.9 million

The shares of InVision Software AG will be offered within a price range of Euro 32.00 to Euro 38.00 per share and can be subscribed to between 13 and 14 June 2007. The final placement price will also be published on 14 June. Commencement of trading of the shares on the Frankfurt Stock Exchange’s Prime Standard sub-segment (Official Market) is scheduled to occur on 18 June 2007. WestLB AG is acting as the Sole Lead Manager and Sole Bookrunner for this IPO. M.M.Warburg & CO KGaA is the Co-Lead Manager. 

InVision will be offering up to 1,077,000 shares. If the greenshoe option is fully exercised, the total placement proceeds will thus total up to between Euro 34.5 and Euro 40.9 million. Thereof, InVision will receive up to Euro 27.2 million in proceeds from a capital increase. Should all shares be allotted during the IPO there will be a free float of 48 percent. 

Of the overall number of the offered shares, i.e. 1,077,000, up to 714,996 shares derive from a capital increase against cash capital contributions and up to 221,530 shares result from a secondary placement. Up to 140,474 shares of the current shareholders will be made available in connection with a possible over-allotment (greenshoe option). Sole selling shareholder is InVision Holding GmbH, a company jointly owned by the three founders of InVision Software AG, currently holding 24 percent of the shares in InVision. Even if the greenshoe option should be fully exercised, the founders will still hold 51 percent of the shares of InVision. 

It is InVision’s core business to develop and market software solutions that support companies in optimising the deployment of their staff (Workforce Management). InVision develops since 1995 software based solutions for highly complex optimization tasks. InVision considers this to be an essential part of its competitive edge. An optimised staff scheduling can help to reduce costs due to the fact that an optimum number of employees is on duty at all times. InVision´s customers usually achieve a return on investment within 6 to 12 months. In addition, optimised staff planning also ensures satisfied customers who, for example, no longer have to spend time queuing at checkouts. Employee’s motivation can be improved by taking their scheduling requests into account. 

  • International Securities Identification Number (ISIN): DE0005859698 
  • Securities Code Number (WKN): 585969 
  • Ticker Symbol: IVX 
  • Common Code: 030194381 
The offer prospectus that was approved by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) on 
24 May 2007 is including supplements available for downloading at: the homepage of InVision Software AG: www.invision.de (IPO section).


DISCLAIMER

This publication does not constitute an offer to sell or a solicitation of an offer to buy or subscribe for any securities. No offer of securities of InVision Software AG is being, or will be, made to the public outside Germany. 

The offer in Germany is being made exclusively on the basis of the securities prospectus which has been published and filed with the Bundesanstalt für Finanzdienstleistungsaufsicht. Any decision to invest in the securities of InVision Software AG offered should solely be based on the securities prospectus. Copies of the securities prospectus are available free of charge at the offices of InVision Software AG and at the offices of the underwriting banks. This publication and the information contained herein is not for distribution, neither directly nor indirectly, in or into the Unites States of America, Canada, Australia or Japan. 

This publication does not constitute an offer for sale of any securities into the United States. Securities, including any shares of InVision Software AG in the course of the offer, may not be offered or sold in the United States or to, or for the account or benefit of, US persons (as such term is defined in Regulation S under the Securities Act of 1933 as amended (the “Securities Act”)) unless they are registered under the Securities Act or exempt from registration. There will be no registration or public offer of any securities of InVision Software AG in the United States.

June 12, 2007

InVision: Price Range Between Euro 32.00 and Euro 38.00

AD-HOC NOTICE ACCORDING TO § 15 WpHG

The shares of InVision Software AG will be offered within a price range of Euro 32.00 to Euro 38.00 per share and can be subscribed to between 13 and 14 June 2007.

InVision will be offering up to 1,077,000 shares. If the greenshoe option is fully exercised, the total placement proceeds will thus total up to between Euro 34.5 and Euro 40.9 million. Thereof, InVision will receive up to Euro 27.2 million in proceeds from a capital increase. Should all shares be allotted during the IPO there will be a free float of 48 percent.


DISCLAIMER

This publication does not constitute an offer to sell or a solicitation of an offer to buy or subscribe for any securities. No offer of securities of InVision Software AG is being, or will be, made to the public outside Germany. 

The offer in Germany is being made exclusively on the basis of the securities prospectus which has been published and filed with the Bundesanstalt für Finanzdienstleistungsaufsicht. Any decision to invest in the securities of InVision Software AG offered should solely be based on the securities prospectus. Copies of the securities prospectus are available free of charge at the offices of InVision Software AG and at the offices of the underwriting banks.

This publication and the information contained herein is not for distribution, neither directly nor indirectly, in or into the Unites States of America, Canada, Australia or Japan.

This publication does not constitute an offer for sale of any securities into the United States. Securities, including any shares of InVision Software AG in the course of the offer, may not be offered or sold in the United States or to, or for the account or benefit of, US persons (as such term is defined in Regulation S under the Securities Act of 1933 as amended (the “Securities Act”)) unless they are registered under the Securities Act or exempt from registration. There will be no registration or public offer of any securities of InVision Software AG in the United States.


May 24, 2007

InVision: First listing scheduled for 18 June

  • Securities prospectus approved by BaFin

InVision Software AG has published details of its intended IPO after obtaining approval for its securities prospectus from the Bundesanstalt für Finanzdienstleistungen (the German Federal Financial Services Agency). Based in Ratingen, Germany, InVision develops and markets workforce management software applications. The intention is to conduct a public offering in Germany and a private placement for institutional investors in Europe. The company will present itself to German and international institutional investors during a roadshow from 29 May to 11 June 2007. The share price range will be determined and published on 11 June 2007 in a decoupled bookbuilding procedure, based on feedback from investors. Interested investors will be able to place subscription orders for shares in InVision Software AG from 13 to 14 June 2007. The company is planning its initial listing at the Prime Standard segment of the Frankfurt Stock Exchange on 18 June 2007. WestLB AG is acting as the Sole Lead Manager and Sole Bookrunner for this IPO. The Co-Lead Manager is M.M.Warburg & Co.

InVision is offering a total of up to 1,077,000 shares in Germany and selected countries within an international private placement. A total of 714,996 shares will stem from a capital increase and up to 221,530 shares will come from a placement of secondary shares by InVision Holding GmbH, which is owned by InVision’s founders (who each own one third of the holding). In addition, up to 140,474 shares will be made available by InVision Holding GmbH to provide a greenshoe option. In the course of the IPO, the company’s capital stock could thus increase from 1,520,004 shares to 2,235,000 shares. Even after the greenshoe option has been exercised, the founders will retain a majority stake of 51 percent in the company.

InVision intends to use the proceeds from the IPO primarily to strengthen its position in the market for workforce management solutions and, in particular, to benefit from the growing demand for this type of optimisation solutions by further expanding its sales operations. InVision plans to expand and further internationalise its business activities by increasing its strength in the areas of sales and professional services within existing locations. Moreover, the company intends to continue technical development of its product range as well as to expand its capacities in the area of software development.

“We offer enterprise-wide applications that can be used across nearly all industry sectors. There is enormous growth potential for our company, which depends upon the successful expansion of our sales organisation”, said Peter Bollenbeck, CEO of InVision Software AG.

Since 1995, InVision has developed and marketed software applications with which enterprises can plan and optimise the deployment of their staff. Optimised employee schedules cut staff costs because an optimal number of employees is on duty at all times. The power and capability of InVision’s optimisation applications has been continuously enhanced during over ten years of development. Today, InVision claims the position of technology leader in this field.

InVision’s core markets are relatively young and are growing rapidly, according to the company. Studies conducted by leading market research firms such as AMR Research and Frost & Sullivan have indicated average growth rates of 16.0 (worldwide market for workforce management) to 20.5 percent (EMEA market for workforce management for call centres) per year for the period from 2005 to 2010.

In recent years, InVision has invested substantial resources in expanding its international sales activities and in new strategic initiatives focusing on key accounts. Today, InVision is represented by eleven subsidiaries, mainly in Europe and North America.

In the fiscal year 2006 (ending 31 December) InVision increased its turnover by approx. 68 percent to €10.7 million. Earnings before interest and taxes (EBIT) amounted to €1.9 million and the EBIT margin to approx. 18 percent in 2006. The company had net earnings after taxes of €1.4 million for 2006. “The sharp increase in turnover and earnings last year showed the positive impact of our investment in marketing and the effect of our new strategic initiative of focusing on key accounts,” said Peter Bollenbeck. In the 1st quarter of 2007, turnover rose by about 95 percent from €1.4 million to €2.7 million. The increase resulted primarily from license fees and services. Growth outside of the German-speaking markets (Germany, Austria and Switzerland) was particularly strong at approx. 153 percent (to about €1.5 million).

  • International Securities Identification Number (ISIN): DE0005859698
  • Securities Code Number (WKN): 585969
  • Stock Market Abbreviation: IVX
  • Common Code: 030194381

The offer prospectus that was approved by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) on 24 May 2007 is available for downloading at: www.invision.de (IPO section).


DISCLAIMER

This publication does not constitute an offer to sell or a solicitation of an offer to buy or subscribe for any securities. No offer of securities of InVision Software AG is being, or will be, made to the public outside Germany. 

The offer in Germany is being made exclusively on the basis of the securities prospectus which has been published and filed with the Bundesanstalt für Finanzdienstleistungsaufsicht. Any decision to invest in the securities of InVision Software AG offered should solely be based on the securities prospectus. Copies of the securities prospectus are available free of charge at the offices of InVision Software AG and at the offices of the underwriting banks.

This publication and the information contained herein is not for distribution, neither directly nor indirectly, in or into the Unites States of America, Canada, Australia or Japan.

This publication does not constitute an offer for sale of any securities into the United States. Securities, including any shares of InVision Software AG in the course of the offer, may not be offered or sold in the United States or to, or for the account or benefit of, US persons (as such term is defined in Regulation S under the Securities Act of 1933 as amended (the “Securities Act”)) unless they are registered under the Securities Act or exempt from registration. There will be no registration or public offer of any securities of InVision Software AG in the United States.


May 15, 2007

InVision Software AG plans to go public

  • Software vendor with international approach

InVision Software AG, based in Ratingen near Düsseldorf in Germany, intends to begin trading on the Prime Standard of the Frankfurt Stock Exchange within the first half of 2007. InVision specialises in developing optimised workforce management solutions. With the proceeds of the IPO, InVision intends to strengthen its core operations as well as to expand its market position and its technological edge. “Our applications cut business operating costs while enhancing employee productivity and satisfaction. Our customers usually achieve return on investment within 6 to 12 months,” said founder and CEO Peter Bollenbeck.

The market for workforce management is relatively new, has been showing rapid growth and still offers great potential, as shown in the findings of studies conducted by leading market research firms such as Frost & Sullivan and AMR Research. In InVision’s core markets, average growth rates in the range 16.0 to 20.5 percent per year are predicted for the period 2005 to 2010.

InVision’s core business is developing, marketing and implementing software applications which enable enterprises to optimise the deployment of their staff. InVision’s solutions cover the entire spectrum of workforce management – from forecasting required staffing levels, generating highly efficient optimised shifts and assisting with on-the-day staffing issues, to time management and reporting. InVision’s solutions cover the whole enterprise and can be used across many different industry sectors. InVision’s solutions are differentiated from those of its competitors by the company’s sophisticated mathematical optimisation technology. “This is where we are one of the leading vendors,” said Matthias Schroer, CTO at InVision. “Creating employee schedules represents a large mathematical problem that our optimisation applications are able to solve in the optimal way. This is only possible as a result of our experience in this specialist field, which goes back over ten years. Applications running such complex calculations have only become commercially viable since the introduction of affordable very high performance computer processors,“ Matthias Schroer added.

The main challenge of staff planning is to create shifts which optimally cover the staffing levels required by the business, while complying with all applicable rules and regulations. In addition to legal, union or contractual constraints, there is a host of other considerations which need to be taken into account when scheduling. These include individual employee skills, specific activities which must be scheduled at specific times, employee time accounts, budget restrictions and even car sharing schemes. “An optimum schedule not only cuts costs for the enterprise because just the right number of employees is on duty at all times. It also means satisfied customers, who for example no longer have to spend precious time queuing at the checkout; and it means motivated employees, whose preferred working hours are taken into account as far as possible,“ explained Peter Bollenbeck.

InVision is growing faster than its market. In fiscal year 2006 (ending 31-Dec), it succeeded in increasing its turnover by approx. 68 percent to €10.7 million from €6.4 million in the previous year. Its EBIT margin amounted to 18 percent in the same period. Founded in 1995, InVision began the process of internationalisation in 1999 and today is represented by 11 subsidiaries in Europe, North America and South Africa in addition to its headquarters in Ratingen near Düsseldorf. “In recent years, we have massively invested in expanding our worldwide marketing. Now we are reaping the benefits,” said Peter Bollenbeck, adding: “Our products are all multi-language, adaptable to local practices and regulations and thus internationally applicable without further development. This also distinguishes us from our competitors.”

The founders, Peter Bollenbeck, Matthias Schroer and Armand Zohari each own 25 percent of InVision Software AG. InVision Holding GmbH, one-third of which is held by each of the founders, owns about 24 percent. Middle management employees of InVision hold about 1 percent of the company.

The IPO is being supported by WestLB AG as the sole lead manager and sole book runner. The co-lead manager is M.M.Warburg & Co.

About InVision:

InVision Software is one of the leading suppliers of enterprise wide Workforce Management solutions, which enable companies to optimise the planning and scheduling of their staff. InVision empowers customers to reduce personnel costs, increase productivity, improve employee satisfaction and to boost revenue by leveraging better customer service. Founded in 1995 with its headquarters in Ratingen (Germany), InVision currently employs more than 120 WFM specialists and has offices across Europe, North America and South Africa.

Among InVision's clients are numerous international blue chip companies, such as ABN AMRO, Allianz, BMW, Deutsche Telekom, IKEA, Sky and Vodafone.

For more information, please visit us at www.invision.de


DISCLAIMER

This publication does not constitute an offer to sell or a solicitation of an offer to buy or subscribe for any securities. No offer of securities of InVision Software AG is being, or will be, made to the public outside Germany. 

A prospective offer in Germany would be made exclusively by means of a securities prospectus to be published and filed with the Bundesanstalt für Finanzdienstleistungsaufsicht. Such securities prospectus would at the appropriate time be made available free of charge at the offices of InVision Software AG and at the offices of the underwriting banks.

This publication and the information contained herein is not for distribution or publication, neither directly nor indirectly, in or into the Unites States of America, Canada, Australia or Japan.

This publication does not constitute an offer for sale of any securities into the United States. Securities, including any shares of InVision Software AG in the course of a prospective offer, may not be offered or sold in the United States or to, or for the account or benefit of, US persons (as such term is defined in Regulation S under the Securities Act of 1933 as amended (the “Securities Act”)) unless they are registered under the Securities Act or exempt from registration. Neither InVision Software AG nor any potential selling shareholders intend to register a prospective offer, or any part thereof, in the United States or to make a public offer of securities in the United States.


[This press release was updated for legal reasons on the 13th of June, 2007]


January 11, 2007

RAC implement InVision WFM for roadside patrols

Part of RAC's commitment to members is to provide own branded patrols at the roadside as much as possible. Reducing the need to use local garages also reduces subcontracting costs. RAC Rescue employs around 2,500 people, providing roadside assistance 24 hours a day, 365 days a year and the shift patterns worked by RAC employees are extremely flexible. In return for this flexibility, RAC guarantees to roster its employees according to a comprehensive set of rules and fairness guidelines, which go significantly beyond legal requirements such as the EU Working Time Directive. To further enhance employee work/life balance, RAC allocates core hours for a complete year, three months in advance.

The challenge faced by the rostering team at RAC Rescue is to generate employee rosters that provide optimal coverage of staffing requirements while also respecting all the rules and fairness guidelines. Moreover, this process previously required significant manual effort and RAC wished to automate the process as much as possible. Following a rigorous evaluation programme, in September 2006 RAC selected Enterprise WFM from InVision. Evaluation included a detailed proof-of-concept exercise, which confirmed InVision's ability to automatically generate rule-compliant rosters which also represent an improvement in service coverage equivalent to a seven-figure annual saving. From January 2007, the tool is being used to create rosters for RAC Rescue's entire patrol force and further rollout is planned to nearly 2,000 further colleagues.


September 13, 2006

Call4Cruise Chooses InVision’s Solution to Manage Workforce

Call4Cruise has chosen the solution to optimise the deployment times of service staff in order to improve the service level. The solution contains several modules that are specifically designed to provide an exact forecast of the staff requirement, facilitate personnel planning and scheduling, and simplify effective monitoring. Employees can view their schedules online, trade shifts, and sign up for vacation days using an intranet application.

About Call4Cruise:

Call4Cruise processes a great number of general and reservation requests for AIDA and Costa cruises. The call centre is a point of contact for both travel agencies and direct customers. Its core responsibilities include booking, consultation, and travel reservations.


April 18, 2006

InVision Software Announces New Madrid-Based Account Manager

InVision Software is pleased to announce the appointment of a new Account Manager. Deborah Llabres joined InVision Software Systems S.L., the Spanish subsidiary, on March 20. Her arrival marks a renewal of the sales effort in Spain, Portugal and South America. Her chief responsibility will be to intensify local distribution activities and develop new markets. She will report directly to Eric Bayeux, Vice President Business Development for Southern Europe.

Deborah Llabres brings with her over 15 years of international sales experience and in-depth knowledge of the telecommunication and CRM industry. She joins InVision from ICR Adventus Systems, a specialist for IT solutions in call centres, where she had a leading role in distribution and marketing for the Iberian.

There is still tremendous potential for the implementation of workforce management solutions in Spain, Portugal and South America. In addition, these markets have so far been explored by few competitors. “Her immersion in the business along with useful contacts and her determination to get the most out of this potential have convinced me that Deborah will be an asset to the company,” says Eric Bayeux.


April 10, 2006

Europ Assistance the Netherlands Chooses InVision Enterprise WFM for Scheduling Its Employees

Different modules of the InVision solution will be used for creating the forecast, scheduling of the employees, creating reports and offering the possibility for the employees to view their schedules, exchange shifts amongst each other, and applying for vacation days through the Dutch web interface.

About Europ Assistance the Netherlands:

Europ Assistance the Netherlands was established in 2001 and formed from the, in 1969 created, Schade Alarm Service S.A.S. b.v.. As part of the Worldwide Europ Assistance Group, Europ Assistance the Netherlands knows what it means when it comes to personal assistance: nationally and internationally, 24 hours a day, 365 days a year. Both for your company as well as your customers. Europ Assistance the Netherlands combines a complete and quality high-end service package with a great degree of flexibility and anticipation.