COGNICASE Leader in Municipal Management Software: COGNICASE Acquires Dynabec, 90% Owned by Industrial-Alliance Life Insurance Company.Business Editors MONTREAL--(BUSINESS WIRE)--May 22, 2001 COGNICASE Inc. (Nasdaq: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.), a leading e-business services provider specializing in secure and scalable real-time transactional solutions, today announced the acquisition of privately held Dynabec Informatique Municipale Inc., a supplier of municipal management systems. With this acquisition, COGNICASE consolidates its market share and becomes the undisputed Quebec market leader in municipal management solutions. COGNICASE's clients in the municipal sector now number more than 500, including some of the province's largest cities, for a market share of 80%. "This transaction confirms our commitment to becoming the ASP solutions market leader and places us in a very good position to achieve our goal in the municipal sector. Now that we are the Quebec municipal market leaders, we will be extending our offering to large cities throughout Canada," declared COGNICASE 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. "We are pleased to become a part of the COGNICASE family. This transaction will allow our clients to benefit from COGNICASE's significant expertise and innovative technology," noted Andre Guindon, President of Dynabec. "Industrial Alliance was looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. a partner that would allow Dynabec to continue growing. We are happy with this outcome, which ensures the company's continuity," acknowledged Industrial Alliance President and CEO Yvon Charest. About COGNICASE COGNICASE is an innovative company specializing in the development and integration of real-time transactional solutions. Relying on its results-driven approach, software and technology, and its international Internet engineering A person responsible for developing and maintaining the infrastructure that supports the public Web site, intranet and associated LANs and WANs. May be involved in developing transaction-based applications for e-commerce. See e-commerce engineer. and hosting centre, COGNICASE offers secure and scalable solutions that contribute to the success of its customers in the age of the new economy. The Company is active in several countries, including 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. , France, Spain, Belgium, the Netherlands and Australia. About DYNABEC Dynabec Informatique Municipale is a private company specializing in municipal management systems since 1984. It offers a complete product line of powerful municipal management software packages. Dynabec employs 65 people. About Industrial Alliance Industrial-Alliance Life Insurance Company is one of Canada's fastest-growing and most profitable insurance companies. Founded in Quebec in 1892, the Company operates throughout Canada under three brand names-Industrial Alliance, National Life and IA Pacific Life. Industrial Alliance manages over $14 billion in assets. The company serves over 1.5 million Canadians and markets its products and services through multiple distribution channels, which together represent one of Canada's largest distribution networks. Forward Looking Statement This press release contains 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 Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 (US), which involve risks and uncertainties. Risk factors relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc this press release include the ability of COGNICASE to negotiate and finalize fi·nal·ize tr.v. fi·nal·ized, fi·nal·iz·ing, fi·nal·iz·es To put into final form; complete or conclude: "They have jointly agreed ... the definitive agreements related to the transaction described herein, the possible cancellation of such definitive agreements before the end of their expected duration, the estimated number of transactions being lower than expected and a possible reduction in the needs of COGNICASE's customer for IT services over the period of such agreement. |
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