COGNICASE Complements Processing and Infrastructure Outsourcing Services Offering: Acquires Meta-4 Systems Corporation.Business Editors MONTREAL--(BUSINESS WIRE)--May 14, 2002 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 :GOGI) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :COG.), an innovative IT solutions provider specializing in the development and integration of transactional solutions, today announced the acquisition of Meta-4 Systems Corporation, a Montreal-based provider of installation and technical services for mid-range and micro computer systems and automated teller machines automated teller machine (ATM), device used by bank customers to process account transactions. Typically, a user inserts into the ATM a special plastic card that is encoded with information on a magnetic strip. (ATMs). Founded in 1981, Meta-4 employs 158 people in five offices throughout Canada. The company offers a full scope of third party technical services for mid-range and micro computer systems and peripherals, as well as the installation and support of local area networks (LANs). It provides major financial institutions with full second line ATM support, repair, maintenance and installation services and currently services almost 5,000 ATMs. Most of the contracts are for standard five-year terms. Meta-4 is an authorized video lottery terminal A Video Lottery Terminal or VLT is a gaming machine that allows gamblers to bet on the outcome of a video game. A VLT is similar to a slot machine, except that it is connected to a centralized computer system that determines the outcome of each wager using a random installation and service partner for La Societe des Loteries Video du Quebec Inc, and maintains approximately 4,300 machines. The company also provides installation and technical services for multi-function automated teller machines in the entertainment and gaming market and was the first non-financial institution in Canada to install "private label" ATMs. Meta-4 operates over 600 of its own ATMs and is an associate member of the INTERAC network. Ronald Brisebois, 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. , stated, "This acquisition is important because it serves as a base for entering the processing, monitoring and outsourcing of ATM and point-of-sale (POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale ) transactions market. It also complements the offering of our infrastructure services unit and will create potential synergies in consolidating call centres. Our reputation as a provider of end-to-end services will be enhanced, and the recurring revenue stream of 50% from maintenance contracts supports our business model." Peter Karabetian, Meta-4 Systems Corporation President and CEO, concurred that, "The acquisition of Meta-4 Systems by COGNICASE is extremely positive and synergetic synergetic /syn·er·get·ic/ (sin?er-jet´ik) synergic. syn·er·get·ic adj. Synergistic. for both companies, as it will provide Meta-4 with additional opportunities to grow and strengthen its technical support capabilities, while offering COGNICASE and its customers a full and complementary set of additional in-house services and available expertise." About COGNICASE COGNICASE (TSE: "COG", Nasdaq: "COGI COGI Coalition on Government Information (also known as the Minnesota Coalition on Government Information, or MNCOGI; promotes open access to public records) ") is an IT products and services provider specializing in 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. and Internet-based applications. Relying on its results-driven approach, its software and technology and its Application 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, and Europe. About Meta-4 Systems Meta-4 Systems is a Montreal-based provider of installation and technical services for mid-range and micro computer systems, peripherals, video lottery terminals and automated teller machines. Founded in 1981, the company employs 158 people and serves clients from offices in Montreal, Quebec City, Toronto, Calgary and Vancouver. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion