Press release from CNW Group
Sylogist Completes Acquisition of Epic Data International Inc.
Tuesday, July 02, 2013
Sylogist Completes Acquisition of Epic Data International Inc.13:49 EDT Tuesday, July 02, 2013
/THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./
CALGARY AND VANCOUVER, July 2, 2013 /CNW/ - Sylogist Ltd. (TSXV:SYZ) ("Sylogist") is pleased to announce the completion on July 1, 2013 of the acquisition of all the common shares of Epic Data International Inc. (previously TSXV:EKD) ("Epic Data"). The transaction, which was completed through a court approved plan of arrangement (the "Transaction") under the Business Corporations Act (British Columbia), was previously announced on May 8, 2013.
"In Epic Data, we have acquired a very well-recognized software development, hardware design and support organization. Over the past three decades Epic Data has established an enviable customer base with expertise in the enterprise application software field, in particular with its manufacturing execution systems, data collection platform software and warehouse management application software. In addition, Epic Data's revolutionary rugged tablet, UniView, fills a large market gap in the industrial mobile and shop floor application space," stated Jim Wilson, Sylogist's President and CEO. "This acquisition is highly strategic and synergistic for Sylogist, giving us expanding operations in Canada, the United States and Europe. The addition of Epic Data's technology platforms, 17 experienced employees, Fortune 500 customer base, recurring revenue and approximately $40 million in tax pools to our own business provides a strong cash flow growth vector. We welcome to Sylogist the former Epic Data staff who are joining us in Richmond, B.C., Fort Worth, Texas and Newbury in the United Kingdom."
Sylogist is a technology innovation company which, through strategic acquisitions, investments and operations management, provides enterprise application software to public and private sector customers.
The Company's stock is traded on the TSX Venture Exchange under the symbol SYZ. Information about Sylogist can be found at http://www.sylogist.com.
About Epic Data International Inc.
Epic Data International Inc., which amalgamated with Sylogist on July 1, 2013, has produced manufacturing execution and warehouse management solutions for nearly 40 years. Epic Data solutions synchronize supply chain and production activities to achieve real-time visibility of manufacturing metrics that reduces cycle times and costs, optimizes production planning and control, and boosts quality and efficiency. The solutions are easily implemented either by module or as a completely integrated solution suite across the global enterprise. Customers include Beechcraft, Lockheed Martin, Bell Helicopter, Komatsu, Bombardier Learjet, CAE Inc., Kingfisher (B&Q) plc, Joy Mining Machinery, Cobham Defence Communications Ltd., GE Aircraft Engine, Contour Premium Aircraft Seating, McBride plc, Phoenix Contact, Rolls-Royce and Volvo.
In this document and in other documents filed with Canadian regulatory authorities or in other communications, Sylogist may from time to time make written or oral forward-looking statements within the meaning of applicable securities legislation, including statements regarding Sylogist's business plans and financial objectives. These statements typically use words such as prospects, believe, estimate, forecast, project, expect, anticipate, plan, may, should, could and would, or the negative of these terms, variations thereof or similar terminology. By their very nature, forward-looking statements are based on assumptions and involve inherent risks and uncertainties, both general and specific in nature. It is therefore possible that the forecasts, projections and other forward-looking statements will not be achieved or will prove inaccurate. Although Sylogist believes that the expectations reflected in these forward-looking statements are reasonable, it provides no assurance that these expectations will prove to have been correct. Sylogist cautions readers against placing undue reliance on forward-looking statements when making decisions, as the actual results could differ considerably from the opinions, plans, objectives, expectations, forecasts, estimates and intentions expressed in such forward-looking statements due to various material factors. Among other things, these factors include fiscal and economic policies, changes in interest and foreign exchange rates, and general economic conditions, legislative and regulatory developments, competition and access to capital. Sylogist further cautions that the foregoing list of factors is not exhaustive. For more information on the risks, uncertainties and assumptions that would cause Sylogist'ss actual results to differ from current expectations, please also refer to Sylogist's public filings available at www.sedar.com. Sylogist does not undertake to update any forward-looking statements, whether oral or written, made by itself or on its behalf, except to the extent required by securities regulations.
- Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release-
SOURCE: Sylogist Ltd.
For further information:
Jim Wilson, President and CEO