COGNICASE: Creation of New World-Wide Canadian Centre of Expertise in Energy.Business Editors MONTREAL--(BUSINESS WIRE)--Dec. 7, 2001 COGNICASE Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :COGI COGI Coalition on Government Information (also known as the Minnesota Coalition on Government Information, or MNCOGI; promotes open access to public records) )(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :COG.) COGNICASE Signs Agreement in Principle with Hydro-Quebec for: - Majority of M3i Shares from Hydro-Quebec - Five-Year $20 Million CED Software Maintenance and Upgrade Contract, Renewable for Five Years COGNICASE Inc. (TSE: "COG", Nasdaq: "COGI"), a provider of advanced transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. solutions and Internet-based applications, today announced that it has signed an agreement in principle with Hydro-Quebec ValTech, a Hydro-Quebec subsidiary. Under the agreement, COGNICASE is to acquire all M3i shares held by Hydro-Quebec ValTech, M3i's majority shareholder. The transaction should be finalized before the end of the year and would enable COGNICASE to extend its products and expertise to the energy and public service sectors. COGNICASE would also be responsible for developing and marketing Hydro-Quebec's CED (Capacitance Electronic Disc) An earlier videodisc technology from RCA that was released in 1981 and abandoned five years later. Like phonograph records, the analog disc contained grooves that a stylus rode over. (Centre d'Exploitation de la Distribution) software, designed to manage the company's distribution operations centres. The CED software and M3i's solutions enable companies in these sectors to better serve their clients by optimizing their distribution management systems, communication with their service crews, and utilization of distribution installations. The agreement makes provisions for COGNICASE to provide maintenance and upgrade services for Hydro-Quebec's CED software. The $20 million contract is for a five-year term, renewable for five additional years. Hydro-Quebec would also grant COGNICASE a CED license as part of the agreement. This software completes M3i's product line of computerized solutions (ROMS ROMS Russian Multimedia and Internet Society ROMS Regional Ocean Model System ROMS Reactor Operations Monitoring System ROMS Rated Officer Monitoring System ROMS Remote Ocean-Surface Measuring Sensor ), which already serves a significant proportion of energy, telecommunications, and public security companies world-wide. "Hydro-Quebec is pleased with this agreement, which contemplates the creation of a world-wide centre of expertise in energy in Montreal," stated Yves Filion, Hydro-Quebec Distribution president. "We will share our expertise in the sector with COGNICASE so that they may offer products meeting the high standards of a public service company like Hydro-Quebec Distribution." For his part, COGNICASE Chairman of the Board, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Ronald Brisebois indicated that: "With the acquisition of M3i, which stands out for the performance of its real-time operations management solutions, we would gain a considerable advantage in positioning ourselves in the energy and public services Public services is a term usually used to mean services provided by government to its citizens, either directly (through the public sector) or by financing private provision of services. market. Developing a solid partnership with Hydro-Quebec signals our intention to develop our presence in this industry vertical of significant world-wide potential. We are confident that it would enable us to increase our base of recurring revenues and to achieve our strategic objectives." About Hydro-Quebec Hydro-Quebec is a major North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. producer and distributor of energy. Its network includes 32,283 kilometres of transport and 106,448 kilometres of distribution. The company, whose total assets amount to more than $59 billion, serves more than 3.5 million clients in Quebec, in addition to its activities in the north-eastern U.S., Ontario, and New Brunswick New Brunswick, province, Canada New Brunswick, province (2001 pop. 729,498), 28,345 sq mi (73,433 sq km), including 519 sq mi (1,345 sq km) of water surface, E Canada. . About M3i The world leader in the design and development of mission critical Real-time Operation Management Systems (ROMS) for energy, telecommunications, and public safety organizations. M3i continues to help leading service providers improve customer satisfaction, enhance corporate image to shareholders and the media, control costs, and advance regulatory relationships. M3i...Seamlessly linking utilities' most vital and valuable assets - Customers, Control Rooms, and Crews. About COGNICASE COGNICASE (TSE: "COG", Nasdaq: "COGI") is an IT products and services provider specializing in advanced transaction processing and Internet-based applications. Relying on its results-driven approach, its software and technology and its Application Services See ASP and Web services. Technology Centre, COGNICASE offers secure and scalable solutions that contribute to its customers' economic success in the age of the new economy. The Company is active in Canada, the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , and Europe. The transaction described in this press release contains certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the Private Securities Act and is subject to and conditional upon certain factors, including: (i) satisfactory due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. by all parties, (ii) the negotiation and completion of definitive agreements (including among others certain licensing agreements, services agreements and commercialization rights agreements), (iii) the approval of the transaction by the board of directors of COGNICASE, Hydro-Quebec, and Hydro-Quebec Valtech Inc., (iv) the entering into of definitive agreements with the remaining shareholders of M3I respecting the acquisition of all the remaining shares of M3I by COGNICASE, and (v) the obtaining of certain third party consents, including any of a regulatory nature. Statements regarding the Company's estimates of the value of the contracts described in this press release involve risks and uncertainties. As a result of a number of factors, including factors that the Company may not currently foresee, the value derived from such agreements may differ materially from those set forth in the forward-looking statements. Such risks and uncertainties include the risk of early termination of the contract prior to its original term and the non-renewal thereof. |
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