Cognicase Increases Presence in France Through Acquisition of Group Logispace S.A.MONTREAL--(BUSINESS WIRE)--June 1, 1999-- (Nasdaq: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.) COGNICASE Inc. (Nasdaq:COGI) announces that it has entered into an agreement to acquire GROUPE LOGISPACE S.A., a fast-growing French company with revenues of 60 million French Francs (US$10 million) and over 120 employees. The Consulting Services firm specializes in project and information system management control. It also edits software packages dedicated to specific niches of activities in vertical industry sectors. LOGISPACE specializes in quality control, as well as in large-scale project and operational management. The transaction is subject to regulatory authorizations expected to be obtained on June 7, 1999. "GROUPE LOGISPACE S.A. is a profitable and focused company with a favourable position Noun 1. favourable position - the quality of being at a competitive advantage favorable position, superiority advantage, vantage - the quality of having a superior or more favorable position; "the experience gave him the advantage over me" in the European market," stated Ronald Brisebois, President and Chief Executive Officer of COGNICASE. "This will enable us to increase our strategic positioning with various large-scale clients." LOGISPACE's most important customers include some of the main players in the French banking and financial sectors, such as Societe Generale and Credit Agricole, the weapons and space industry, including La direction generale de l'armement, Alcatel and Marconi, and local communities such as the cities of Paris and Toulouse. Vincent Rouaix, President of LOGISPACE, added: "COGNICASE will bring financial and commercial strengths to our development. It will allow us to establish a significant presence in France and will bring us additional expertise in various IT fields, thereby creating important cross selling opportunities with our existing client base. Indeed, our commitment to assist customers in managing effectively the evolution of their organization and technologies requires us to offer global and comprehensive services, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. clients' specifications, in the conception, management and undertaking of information systems". 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 technology, solutions and software. The company offers a full range of IT solutions including complete or 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. Following this acquisition, the enterprise will have over 2,050 IT professionals serving customers from offices in 15 cities in 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. , Europe and Australia. Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995 (US), which involve risks and uncertainties. As a result of a number of factors, including factors that the Company may not currently foresee, the Company's actual results could differ materially from those set forth in the forward-looking statements. Certain other factors that might cause the Company's actual results to differ materially from the forward- looking statements include the Company's ability to (i) successfully develop additional products and services and new applications for its existing products and services and otherwise respond to rapid changes in technology, (ii) successfully compete in its industry for customers and developers and other personnel with expertise in information technology, (iii) successfully identify and consummate acquisitions on favorable terms and integrate MSI MSI: see integrated circuit. (1) (MicroSoft Installer) See Windows Installer. (2) (Medium Scale Integration) Between 100 and 3,000 transistors on a chip. See SSI, LSI, VLSI and ULSI. or any other acquired businesses, and (iv) successfully manage its growth and changing business, as well as those factors set forth under the heading "Risk Factors" in its Final Prospectus Final Prospectus A legal document stating the price of a newly issued security, the delivery date, and other facts that are important for investors. Notes: The final prospectus must be given to every investor who purchases a new issue of registered securities. dated October 2, 1997 as filed with the Securities and Exchange Commission. |
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