The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Marketwire

Hartco Announces Sale of ACS Division to Systemex

Thursday, March 31, 2011

Hartco Announces Sale of ACS Division to Systemex12:19 EDT Thursday, March 31, 2011MONTREAL, QUEBEC--(Marketwire - March 31, 2011) - Hartco Inc. (TSX:HCI) today announced that it has come to an agreement to sell the Advanced Connectivity Solutions division ("ACS") of Metafore Technologies Inc. ("Metafore"), its wholly-owned subsidiary, to Systemex Communications Inc. ("Systemex"). The terms of the transaction were not disclosed. The ACS division provides cabling, Internet and related services in the Greater Toronto Area (GTA) to a major Canadian cable services provider."The divestiture of the ACS division will allow Metafore to focus on strengthening its leadership position in its core IT infrastructure business across Canada," said Pat Waid, Hartco's President and Chief Operating Officer. "We are pleased to sell ACS to Systemex, who will invest in the ACS business and ensure its long-term success for the benefit of its customers and associates." "We are happy to welcome the ACS associates to our company," said Gaston Dandurand, President of Systemex. "This transaction, along with the recent acquisitions of JP Cable and Labrèche Telecom are strategic and consistent with our plan to expand as a significant player in Ontario and ultimately have a national coverage in servicing the wireless telecommunications industry in Canada. We are glad to add 150 technicians on the road to our current team of 400 technicians". Synergis Capital Inc., a boutique M&A firm, acted as the exclusive advisor to Systemex for these transactions. About Hartco Inc.Hartco Inc. (TSX:HCI) has been a leader in the Canadian information technology business for more than thirty years. Through its operating divisions, which together include more than 50 locations across Canada, Hartco Inc. delivers information technology solutions to private and public sector organizations of every size. For more information, please visit www.hartco.com. About SystemexSystemex Communications Inc. is a private company, located in Quebec. Systemex offers a complete range of engineering, construction, installation and infrastructure maintenance to the wires and wireless telecommunications industry. The new ACS division operates the same business within the Ontario market. For more information, please visit www.systemex.ca. Forward-Looking StatementsThis news release contains forward-looking information. Except for historical information contained herein, the statements in this document are forward-looking. Forward-looking statements involve known and unknown risks and uncertainties, which may cause actual results in future periods to differ materially from forecasted results. Those risks include, among others, changes in customer demand for information technology products or services, changes in supplier pricing actions or terms, customer orders, pricing actions by competitors, changes in laws and regulations and general changes in economic conditions. Risks that could cause our results to differ materially from our expectations are discussed in our Annual Management's Discussion & Analysis. FOR FURTHER INFORMATION PLEASE CONTACT: Carl Gauvreau, CAFor Investor Relations please contact: Hartco Inc.Vice-President Finance and Chief Financial Officer514-354-3810514-354-8989 (FAX)cgauvreau@hartco.comwww.hartco.comORSystemex CommunicationsSystemex information please contact:Gaston Dandurand, President514-735-8557514-735-5250 (FAX)gdandurand@systemex.cawww.systemex.ca