Logo

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.


March 23, 2006

Manor Chooses InVision Software

Manor AG, the largest retail business in the Swiss market, is about to start using InVision’s workforce management solution to schedule 8,000 employees (total staff: over 11,500). Manor operates 72 department stores in Switzerland, holding the top position in the department store sector with a market share of 55%.

Choosing InVision was the result of a thorough selection process in the course of which InVision’s quality solution was able to beat various international providers. What convinced Manor was that InVision’s Enterprise WFM is a solution which first accurately forecasts the employee requirement before it produces schedules which optimally meet the staff requirement. Manor is going to replace an existing tool with InVision. “That measure is the logical result of a switch in our scheduling approach,” says Jürg Kaiser, Vice Director of IT at Manor. “So far, our employee’s schedules used to be our starting point while we left traffic assessment and workload estimates to deal with later on. InVision Enterprise WFM will now help us reverse that process and generate our staff’s schedules on the basis of customer traffic and requirement for service.” The new system will allow Manor managers to comfortably schedule staff in the departments Food, Non-Food, and Restaurant. Since all departments will be managed centrally in one system, the company is confident it will benefit in more than one way: The software will not only tailor schedules to the requirement but also optimise and simplify the scheduling process.

After founding the Swiss subsidiary last year, closing the deal with Manor is an important milestone in InVision’s development. “Manor is the perfect environment in which to demonstrate all of our product’s strengths. The professional customer service Manor offers calls for a reliable and flexible workforce management solution. We are happy and proud to be Manor’s choice, and we look forward to establishing a strong and innovative partnership,” says Günter Dicks, InVision’s Business Development Manager for the Swiss market.

About Manor:

Manor AG, based in Basle, is a subsidiary of the Maus Frères Holding in Geneva, whose subsidiaries are united in the Manor Group. Among the group’s members are 72 Manor department stores with Manora restaurants and the sports outfitter chain Athleticum as well the Fly furniture warehouses.


December 14, 2005

InVision Software and Vocalcom Agree on Distribution Partnership

InVision Software and Vocalcom, an internationally operating CRM provider, are joining their distribution channels. Since December, InVision Enterprise WFM, a web-based solution to optimise staff schedules, has been part of Vocalcom’s portfolio. The companies’ distribution partnership will include all of Vocalcom’s locations in Europe as well as Argentina and Brazil while InVision contributes the foothold it has on the entire American continent thanks to its Chicago branch, opened in the middle of 2005.

Peter Bollenbeck, CEO of the InVision group: “By collaborating with Vocalcom, InVision is going to strengthen the dominant position it holds internationally. We expect to see a significant gain in our worldwide trading efforts and an increase in brand recognition especially with regard to the call centre market. Vocalcom is a well-positioned and competent partner, a company that has made a name for itself in the field of web-based call centre technologies.”

“In a number of industries, the importance of customer communication has increased over the last years,” says Günter Dicks, InVision VP Business Development Central Europe. A noticeable increase has been observed not only in the number of contact centres but also in the range of technical alternatives. As a result, employees who handle customer requests must have a broad range of skills in order to provide great service. Moreover, staff schedules have long since ceased to comply with any fixed pattern, making staff scheduling more complicated. Studies show, however, that only few companies adequately respond to these challenges by implementing professional solutions. “This is where InVision’s software comes into play. By developing the InVision Enterprise WFM solution we have provided a powerful and user-friendly workforce management tool that guarantees a fast ROI without compromising our first-rate quality or service,” says Günter Dicks.

John Holst, CEO of Vocalcom: “We are looking forward to collaborating with one of the leading workforce management specialists. InVision’s solutions add a valuable component to Vocalcom’s product range: InVision is the state-of-the-art response to all issues revolving around scheduling in call centres. The system meets even the most complicated requirements and is available in all the languages our customers speak. Cost-efficient workforce management is a key factor when it comes to successful CRM and customer communication.”

Vocalcom develops and distributes ASP-based platforms and virtual phone networks for multi-channel contact centres. Vocalcom’s customers include Adecco Services, Albert Heijn, AOL, Arvato Services, BNP Paribas, Citibank, Crédit Agricole and Sony Music.


October 20, 2005

InVision Enterprise WFM: A New Release Packed With Cutting-Edge Features

After a successful presentation at Call Center Expo in Birmingham, InVision has launched the new generation of its workforce management system. InVision Enterprise WFM is a solution that helps businesses across industries to optimize the way their staff is scheduled. Its new and improved time management components make it even easier to leverage and coordinate requirement forecast, staff scheduling, time management and monitoring. Besides, the solution now contains an additional module which monitors all scheduled and actual activities in real time. Another new addition is a feature that revolutionizes the way complex activity structures are optimized. Workforce management (WFM) will not only make the staff schedule more efficient but also simplify all processes involved in scheduling.

Regardless of the industry and the size of your company, the way your employees are scheduled is a factor critical for success. To improve your efficiency, it is indispensable to rely on a solution that will take care of scheduling for all your departments, especially when you consider rising costs and the need to take customer requirements into account. Peter Bollenbeck, CEO of the InVision Software Group, explains: “Conventional staff planning systems simply don’t do the trick when you want to optimize working hours in keeping with a staff requirement, especially when we’re talking about complex environments. For a scheduling procedure to be economically sound, we need flexible tools that meet all the challenges and deliver fast results. The new InVision Enterprise WFM delivers these results.”

Workforce management with new features for time management

Efficient staff scheduling requires integrated time management that is equally flexible as employees’ working hours. Monitoring and managing working hours is closely intertwined with the way your staff can be scheduled. If these aspects are not well coordinated, scheduling becomes tricky business. The more flexible your staff’s working hours are, the greater the challenge becomes to correctly calculate and process employees’ work accounts. InVision Enterprise WFM will equip you with the functions that enable you to seamlessly integrate time management into all WFM processes. Processing flexible working hours will thus be just as easy and reliably accurate as scheduling your staff.

Real time monitoring

Any scheduling procedure, no matter how well it is tailored to the requirement, can become useless if there is no way to tell whether the schedule is being complied with. That’s the reason InVision is offering a completely revised module which will enable you to monitor your employees’ current activities and compare them to the schedule. AdherenceMonitor gives you at-a-glance information in real time. It will highlight any deviations from the schedule and ensure that the schedule is adhered to, that need for assistance is identified, and work processes are optimized.

Multiple activities – one optimization problem

The more heterogeneous employees’ skill profiles and responsibilities are, the more complicated it gets to optimize all their activities. To deal with this, many software providers choose the simulation approach, which is a very time-consuming method, or will cut up a shift into sequences to schedule employees for one activity at a time. In many cases, this leads to the actual staff need regarding individual activities being ignored. That way, ideal staffing cannot be guaranteed; often overstaffing is inevitable. InVision has solved this problem by introducing the Multi-Activity feature. This feature enables you to determine your staff requirement while taking into account all available staff capacities, including their skills and the activities they can carry out. By pooling skills and activities, you can minimize your staff needs: the requirement for specific activities can be covered by scheduling employees who are qualified for fewer activities. Our specifically developed, revolutionary calculation approach will make sure that Multi-Activity scheduling is not only more precise but also faster than a sequential scheduling procedure, and at least 50 times faster than the simulation approach.

Employee Self-Service – less paperwork, less administrative effort, shorter communication channels

The InVision Infothek is an integrated tool that will simplify both the scheduling process and communication with your employees. This portal allows your employees to select and manage their working hours, request days off, schedule absences, and print various reports. A new addition is the interactive shift exchange. This feature enables your employees to trade shifts with colleagues. The system will ensure that trade are not approved unless they comply with your scheduling rules. Infothek will reduce the administrative effort and make sure that information is processed and forwarded in a faster and streamlined manner, thus cutting cost and improving the productivity both for your staff and for your scheduling routine as a whole.

InVision Enterprise WFM is a modular system designed to optimize staff scheduling. InVision has more than 160 customers worldwide, among them global players such as ABN AMRO, BMW, Deutsche Telekom, H&M, IKEA, Vodafone and T-Mobile. Through its requirement-driven scheduling approach, InVision Enterprise WFM achieves a significant improvement in staff deployment and has been proven to reduce personnel-related expenses by up to 25%. The solution is completely web-based and comprises various modules which cover all areas of company-wide workforce management. This includes the requirement forecast, capacity and staff planning, employee self-service, time management, real-time schedule updating, and real-time monitoring.