• Greenorbit Pty Ltd (GO) signs agency agreement with Oak Engage Limited
• GO will offer Oak's intranet and employee experience platform to its customers
• GO will act as billing and collection agent for Oak for 2 years after customer migration

Knosys Limited (ASX:KNO) has announced that its wholly-owned subsidiary Greenorbit Pty Ltd (GO) has signed an agency agreement with Oak Engage Limited (Oak), a company incorporated in England and Wales. Under the agreement, GO will introduce the Oak intranet and employee experience platform (the Oak Platform) to its existing customer base. GO currently provides its Greenorbit intranet solution (the GO Platform) to a portfolio of customers, primarily based in Australia and the United States of America. The annual revenue from GO customers currently accounts for approximately 30% of Knosys group annual recurring revenues (ARR). The agency agreement has the following key terms: for an initial 2-year period, GO will act as an agent for Oak, introducing the Oak Platform to GO customers; Oak will engage with relevant GO customers introduced by GO to offer the Oak Platform as the ongoing intranet and customer experience solution; for an initial 2-year period, from the date upon which a customer migrates to the Oak Platform, GO will act as the billing and collection agent for Oak, after which Oak will take on the direct customer and billing relationship. While there is no guarantee of any customers migrating to the Oak Platform, under this agency agreement Oak will remunerate GO for each GO customer that migrates to the Oak Platform, based on a multiple of that customer's GO ARR. Any GO customers that do not migrate to the Oak Platform will remain on the GO Platform on their current terms.

The Knosys board considers this agreement to be the best outcome for GO customers and Knosys shareholders, as Knosys pursues its current priorities in the Library and Knowledge management markets. By entering this agreement, Knosys can access new intranet technology which otherwise would need development and investment by Knosys and its shareholders, allowing quicker time to market and existing GO customers to access new features and functions to enhance their business operations.