Mr. Nicolas Bonnafous reports
ODESIA ANNOUNCES THE ACQUISITION OF INTERFACING TECHNOLOGIES
Odesia Group Inc. has acquired all issued and outstanding shares of privately held Interfacing Technologies Corp., a debt-free business process management (BPM) software company, for $1.5-million cash and the issuance of 4.0 million shares.
Based in Montreal, Interfacing is a pure-play BPM software company founded in 1995. Interfacing has clients globally across all industries. Interfacing's BPM solutions are intuitively designed for business users and cover the full spectrum of process improvement and governance initiatives. Following this acquisition, Interfacing's clientele will continue receiving the same high-quality service from Interfacing's dedicated staff.
"We are thrilled to have the Interfacing team join Odesia," declared Nicolas Bonnafous, president and chief executive officer of Odesia. "This acquisition of Interfacing is the first step to create new innovative solutions under our unified business intelligence (UBI) strategy, please visit Interfacing's website for more information.
"Since the beginning of the year, we are delivering on all aspects of our growth plans," further commented Odesia's president.
"This transaction creates an intelligent operations platform," said Meir Levi, CEO of Interfacing. "We are looking forward to an exciting future as part of the Odesia family."
Strategic and financial benefits
Positions Odesia as a leader in a large and growing BPM space;
Complements Odesia's solutions portfolio;
Provides Odesia with differentiated IP;
Provides Odesia with a larger international clientele;
Is expected to increase revenues by approximately 20 per cent;
Is expected to provide higher gross margins related to the sale of
Is expected to be immediately accretive to Odesia's earnings.
New director and international representation
Mr. Bonnafous further announced that Meir Levi, president and controlling shareholder of Interfacing, had accepted to join Odesia's board of directors, subject to regulatory approval, and will assume the position of senior vice-president business development for Odesia.
We seek Safe Harbor.
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