COGNICASE Chooses Calgary as its Western Canada Headquarters -- Montreal-Based IT Solutions Company Plans Aggressive Western Expansion.CALGARY, Alberta--(BUSINESS WIRE)--June 22, 1999-- Recently Acquired Korum Technologies to Form COGNICASE Calgary Base of Operations Noun 1. base of operations - installation from which a military force initiates operations; "the attack wiped out our forward bases" base air base, air station - a base for military aircraft army base - a large base of operations for an army 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) ) (ME:COG.) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :COG.), one of Canada's fastest growing information technology and software solutions companies, today announced it has chosen Calgary as its new base of operations to lead its expansion into western Canada
Western Canada, commonly referred to as the West . The company also announced that it will rename Re`name´ v. t. 1. To give a new name to. Verb 1. rename - assign a new name to; "Many streets in the former East Germany were renamed in 1990" its recent acquisition, Korum Technologies, under the COGNICASE brand. "Our new western Canada headquarters will allow us to better support and serve our customers as we expand our business to the west," said Ronald Brisebois, president and chief executive officer of COGNICASE. "Calgary is a growing center for high technology and IT services. For this reason, we feel Calgary and COGNICASE are a natural fit." Incorporated in 1996, Korum Technologies is a Calgary-based consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a specializing in information technology. With more than 30 consultants, Korum's strong Calgary based client list includes Amoco Canada, Pan Canadian, Computing Devices Canada and The City of Calgary. In its second year of business, Korum billed over $3 million. "This acquisition marks the beginning of a new era -- we are excited to be part of COGNICASE's plans for growth in Calgary and across western Canada," said Ashley Burns, former chief executive officer of Korum Technologies and Calgary general manager for COGNICASE. "This deal benefits both our companies. Our clients will now benefit from COGNICASE's complete service offering. It is a win-win situation." The Montreal-based company plans to rapidly expand the Calgary office over the next 12 months. Over the past year, COGNICASE has grown rapidly throughout Canada and Europe. "Our Calgary expansion will be generated through further acquisitions and organic growth," said Gilbert Boileau, executive vice president, North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. of COGNICASE. "Our model of success in Montreal, Ottawa and Paris has been to identify attractive acquisition targets and merge them with COGNICASE -- enabling us to offer a comprehensive suite of IT services and software solutions." "To succeed in attracting large scale IT projects in Calgary, COGNICASE will need a critical mass of talent. We recognize the requirement to expand rapidly," added Boileau. On April 29, the company announced its revenues increased by 249 percent to US$36,028,000 in the second quarter of fiscal 1999 compared to US$10,319,000 in the corresponding period in 1998. During the second quarter and subsequently, five acquisitions were completed -- three in Canada and two in France. The aggregate annual revenues of these five companies prior to acquisition totalled about US$40 million. Since its initial public offering in fall of 1997, COGNICASE has made 14 company acquisitions. About COGNICASE Inc. Founded in 1991, COGNICASE is an international provider of value-added information technology consulting Information technology consulting (IT consulting or business and technology services) is a field that focuses on advising businesses on how best to use information technology to meet their business objectives. services, solutions and software. The company offers a full range of IT solutions including complete and partial outsourcing, Web/E-commerce development, ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. implementation, client/server application development, network architecture, management and development of client/server software, Web-based development tools, as well as software for automated Internet application conversion and platform migration. The company has over 2,300 professionals serving customers from offices located in 15 cities in North America, Europe and Australia. |
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