Calian Announces Settlement of All Claims Relating to Its Acquisition of PPI Canada Ltd., `PPI'.Business Editors Calian Technology Ltd. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :CTY CTY - /sit'ee/ or /C-T-Y/ [MIT] The terminal physically associated with a computer's system console. The term is a contraction of "Console tty", that is, "Console TeleTYpe". ) today announced that the Company and the selling shareholders of PPI (1) (Pixels Per Inch) The measurement of the resolution of a monitor or scanner. For example, a monitor that is 16 inches wide and displays 1600 pixels across its width would have a resolution of 100 ppi (1600 divided by 16). have agreed to an out of court settlement of their respective claims. This settlement will not have any impact on the results of operations of the Company for the period ended June 30, 2002. PPI was acquired in April 2000 to complement the Company's eServices business. The Company transitioned out of the eServices business in May 2001 and realigned its business strategy to focus on its core strengths in Systems Engineering and Resourcing. "We are very happy with the resolution of this matter. Our management team can now focus exclusively on managing the exciting opportunities we see in Systems Engineering and Resourcing", said Larry O'Brien
Lawrence "Larry" Francis O'Brien, Jr. (July 7 1917 – September 28, 1990) was one of the United States Democratic Party's leading electoral strategists when, for more than two , 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. . About Calian Calian Technology Ltd. (TSX:CTY) provides systems engineering and resourcing services to industry, government and major organizations 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 around the world. With two decades of success and over $125 million in annual revenues, Calian provides customers with ready access to an exceptional team of over 2,200 engineers, telecommunications and technology professionals, and other highly qualified staff. The Resourcing Division augments customer workforces with flexible short and long-term placements, recruitment and outsourcing of engineering and other skilled professionals. The Systems Engineering Division plans, designs and implements solutions for many of the world's space agencies and leading communications satellite communications satellite artificial satellite that functions as part of a global radio-communications network. Echo 1, the first communications satellite, launched in 1960, was an instrumented inflatable sphere that passively reflected radio signals back to manufacturers and operators. DISCLAIMER Certain information included in press releases on this site is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price competition; the dependence on new product development; the impact of rapid technological and market change; the ability of Calian to integrate the operations and technologies of acquired businesses in an effective manner; general industry and market conditions and growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. ; international growth and global economic conditions, particularly in emerging markets and including interest rate and currency exchange rate fluctuations; and the impact of consolidations in the business services industry. For additional information with respect to certain of these and other factors, see the reports filed by Calian with the Ontario Securities Commission The Ontario Securities Commission (OSC) is a regulatory agency which administers and enforces securities legislation in the Canadian province of Ontario. The OSC is an Ontario Crown corporation which reports to the Ontario legislature through the Minister of Finance. . -Calian disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The information on this website is protected by copyright. Copyright (C) 2002 Calian Ltd. All rights reserved. Except as specifically permitted herein, no portion of the information on this website may be reproduced in any form or by any means without the prior written permission from Calian. |
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