COGNICASE Enters the E-Business Vertical Real Estate Portals Marketplace.Business Editors MONTREAL--(BUSINESS WIRE)--Feb. 23, 2000 - Agreements with the Toronto and Vancouver Real Estate Boards. - Partnership with a leading US MLS See multilevel security. provider. - Use of "Watch4Me7-24" for real estate portals. COGNICASE INTERNET INNOVATIONS (CII CII Confederation of Indian Industry CII Chartered Insurance Institute (UK) CII Construction Industry Institute (University of Texas) CII Council of Institutional Investors ), a business unit of 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.), announced today that it has entered into an agreement in principle to acquire a majority interest in RealWave Software Inc., a leader in E-Business solutions. The transaction is subject to regulatory approval and is expected to be concluded by March 2000. RealWave is an Internet solutions company offering software services in Web strategy, design and technology to rapidly develop large and scalable E-Business solutions. In addition to the Internet solutions business, RealWave has developed a complete software product offering for the real estate industry. Architected and developed for the Internet using Object Oriented technology, this product is available as an enterprise offering and as an ASP (Applications Service Provider) offering for the North American real estate industry. The ASP offering will form the core of an industry vertical portal supporting buyers and stakeholders in the traditional real estate selling model including agents, realtors and real estate Boards. Current customers for this solution include the Toronto and Vancouver Real Estate Boards, which together represent some 50 % of the Canadian housing market. These Boards intend to use the RealWave solution to create a Canadian National Multiple Listing Service (MLS). In partnership with a leading US-based MLS provider, RealWave also intends to introduce this innovative product to the U.S. real estate market. The National Association of Realtors The National Association of Realtors (NAR) is made up of residential and commercial realtors who are brokers, salespeople, property managers, appraisers, and counselors, and others working in the real estate industry. (R) alone accounts for more than 720,000 real estate brokers and agents. In addition, the real estate portals will use the COGNICASE INTERNET TECHNOLOGIES (CIT n. 1. A citizen; an inhabitant of a city; a pert townsman; - used contemptuously. Which past endurance sting the tender cit. - Emerson. ) products set, including the "Watch4Me7-24" feature, for multi-channels communication through wireless devices and the Internet. "RealWave is excited by the opportunity to partner with the COGNICASE INTERNET INNOVATIONS team. CII has established an important presence in the E-Business and Internet portal space. The synergy created by bringing together these two dynamic and talented teams leaves us uniquely well positioned to pursue opportunities in the rapidly growing B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business and B2C (Business to Consumer) Refers to a business communicating with or selling to an individual rather than a company. See B2B. E-Business market and to launch our ASP service," added Allan J. Raeside, President of RealWave. "We are excited to participate in the evolution of such an innovative and dynamic company. COGNICASE INTERNET INNOVATIONS (CII) was created to help Internet-oriented companies such as RealWave accelerate their growth. CII will provide financial, marketing and management support to leverage RealWave's unique know-how in Internet technology and industry specific solutions such as the real estate portal," said Tony Marinelli, Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , CII. RealWave is a leading provider of E-Business solutions in the Internet space. RealWave applications development teams leverage Object technology to create robust and scalable Web solutions. In addition to the professional services offered by its E-Business specialists, RealWave also provides high-end E-Services solutions targeting the real estate industry in North America. COGNICASE is among the North American leaders in the implementation of business solutions that leverage information technology, with offices in several major North American and European business centers. Based on its business results-driven approach, Internet Software Technologies, international IT engineering / hosting center and critical mass of business and technology expertise, COGNICASE offers innovative solutions that contribute to the success of its customers in the digital economy. Our solutions include: implementation of turnkey E-Business solutions including portal development and evolution, E-Services software and solutions, re-engineering of existing applications for E-Business, technology configuration management, as well as project management and business process improvement consulting services. COGNICASE INTERNET TECHNOLOGIES (CIT), a business unit of COGNICASE Inc., delivers "smart information on demand" by developing leading edge Internet and wireless software solutions. It capitalizes on COGNICASE'S Internet products, re-engineering technologies and search engine based on rules and fuzzy logic, and using JAVA and XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. . COGNICASE INTERNET INNOVATIONS (CII), a business unit of COGNICASE Inc., positions COGNICASE at the top of the Internet value chain through the innovation and creation of new e-businesses. CII will seek out, create, incubate incubate /in·cu·bate/ (in´ku-bat) 1. to subject to or to undergo incubation. 2. material that has undergone incubation. in·cu·bate v. 1. and promote Internet Portal initiatives. The end result will be a network of interwoven in·ter·weave v. in·ter·wove , in·ter·wo·ven , inter·weav·ing, inter·weaves v.tr. 1. To weave together. 2. To blend together; intermix. v.intr. Internet Portals targeting both vertical markets and diverse communities and allow COGNICASE to take full advantage of the Internet economy. The completion of the transaction described in this press release is subject to certain factors including satisfactory due diligence by COGNICASE Inc. and the negotiation and finalization of definitive agreements. |
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