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FOR IMMEDIATE RELEASE Ref. #NRE2005-01
MONTREAL, January 12, 2005 — TECSYS Inc. (TSE: TCS), a leading Supply Chain Management (SCM) software company announced today it has signed a Letter of Intent to acquire all the shares of Application Solutions Inc. (ASI), a leading Canadian provider of warehouse management solutions (WMS) and system integration services. The closing of this transaction, which is expected to occur in March of 2005, is subject to due diligence, regulatory approval, and the completion of a definitive purchase agreement.
"We are continuing our expansion in supply chain execution with the addition of this highly successful Canadian technology company broadening our WMS practice to include the AS400 family and positioning us as an early leader in Radio Frequency Identification Device (RFID) projects and mobile WMS solutions," said Dave Brereton, Executive Chairman and Co-CEO of TECSYS Inc. "ASI will continue to grow and expand from its Markham location and to develop and enhance WMS solutions for IBM's iSeries product line. They will now tap into the expertise of TECSYS in enterprise Web-based applications and Service Oriented Architectures. ASI is profitable and we expect this transaction to be accretive to earnings."
Headquartered in Markham, Ontario, ASI was founded in 1989 and has grown to become a full service integrator of barcode solutions, warehouse management systems, managed network and wireless services for manufacturing, warehousing and distribution businesses. The company has approximately fifty (50) employees and additional offices in Montreal, QC, and Winnipeg, Manitoba. Its twelve months revenue for the year ending March 31, 2004 is approximately $10.6M CDN. ASI has had a great track record in delivering complete solutions for more than forty (40) customers with over three hundred (300) installations in the United States, Canada, Mexico, and Europe. The customer base includes companies in food, automotive, electronics, music, apparel, paper and pharmaceutical industries. Some of the brand name clients are: Honda Canada, Adidas, Schenker, Panasonic-Technics, Konica Minolta, Cascades, Philips Canada, Bayer and Cinram.
ASI has a proven track record of successfully completing complex systems integration in the WMS market. The company has had significant experience in RFID solutions with several of its clients. In addition, ASI's solutions have integrated with key ERP solutions in the market including SAP, SSA, Oracle/PeopleSoft/JDE, and MS Business Solutions. In 2002, ASI completely re-architected its WMS software platform with leading edge technologies to provide both investment protection for its existing customers as well as winning new WMS opportunities on the IBM iSeries platform. The company has a strong relationship with IBM as an ISV Business Partner to help fuel its growth.
According to Greg MacNeill, ASI President and CEO, "We have achieved a leadership position in Canada with strong brand and customer relationships. With our latest WMS solutions and technology, we need to take our business to the next level." MacNeill added, "By leveraging the leadership position of TECSYS, its marketing strength, and its implementation resources, we can further expand our markets and deliver the value of our software to a wider audience. At the same time, TECSYS will have instant access to the iSeries market and be able to leverage our deep skills in areas such as RFID and best-of-breed WMS solutions."
Top notch customer satisfaction has been ASI's goal and has been driven by the combination of high quality software and tremendous expertise of ASI's people. This will definitely continue as the top priority for both TECSYS and ASI in the integration of the two businesses.
ASI is a full service integrator of barcode-based solutions, warehouse management systems, managed network, and wireless services for manufacturing, warehousing, and distribution operations. For further info, please visit www.asiwms.com.
TECSYS is a leading Supply Chain Management software company that provides powerful enterprise distribution and transportation logistics software solutions through three divisions: EliteSeries, PointForce, and TECSYS Transportation Systems.
Solutions and General Info: info@tecsys.com
Investor relations: investor@tecsys.com
TECSYS Inc.
(514) 866-0001 or (800) 922-8649
The statements in this news release relating to matters that are not historical fact are forward looking statements that are based on management's beliefs and assumptions. Such statements are not guarantees of future performance and are subject to a number of uncertainties, including but not limited to future economic conditions, the markets that TECSYS Inc. serves, the actions of competitors, major new technological trends, and other factors beyond the control of TECSYS Inc., which could cause actual results to differ materially from such statements. All names, trademarks, products, and services mentioned are registered or unregistered trademarks of their respective owners.
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