Press release from Marketwire
Mediagrif and Quebecor Media Announce Closing of the Acquisition of Reseau Contact
Friday, November 29, 2013
Mediagrif and Quebecor Media Announce Closing of the Acquisition of Reseau Contact09:49 EST Friday, November 29, 2013
LONGUEUIL, QUEBEC--(Marketwired - Nov. 29, 2013) - Mediagrif Interactive Technologies ("Mediagrif"), a leading provider in e-commerce solutions, and Quebecor Media announce today the closing of the transaction previously announced on May 31, 2013 regarding the acquisition of Réseau Contact by Mediagrif. Total cash consideration for the acquisition is $7.5 M, subject to certain working capital adjustments.
Réseau Contact is Quebec's most popular dating site with a community of more than a million members.
About Mediagrif Interactive Technologies Inc.
Mediagrif Interactive Technologies Inc. (TSX:MDF) delivers innovative e-commerce solutions to businesses since 1996. Its web platforms enable clients to find, purchase and sell products, exchange information, gain access to business opportunities and manage supply chain collaboration with greater speed and efficiency. The Company provides e-commerce solutions in the fields of electronic components, computer equipment and telecommunications, medical equipment, automotive aftermarket, wine and spirits, diamonds and jewelry, classified ads, recruitment and career services, supply chain collaboration and government opportunities. Mediagrif has its headquarters in Longueuil and has offices in North America and Asia. For more information, please visit us at www.mediagrif.com or call 1 877 677-9088.
About Quebecor Media Inc.
Quebecor, a Canadian telecommunications, entertainment and news media leader, is one of the best-performing integrated communications companies in the industry. Driven by their determination to deliver the best possible customer experience, all of Quebecor's subsidiaries and brands are differentiated by their high-quality, multiplatform, convergent products and services.
Quebecor (TSX:QBR.A)(TSX:QBR.B) is headquartered in Québec. It holds a 75.36% interest in Quebecor Media, which employs nearly 16,000 people in Canada.
A family business founded in 1950, Quebecor is strongly committed to the community. Every year, it actively supports more than 400 organizations working in the vital fields of culture, health, education, the environment and entrepreneurship.
Visit our web site: www.quebecor.com
Follow us on Twitter: twitter.com/QuebecorMedia
This press release contains certain forward-looking statements. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by these forward-looking statements. We consider the assumptions on which these forward-looking statements are based to be reasonable, but caution the reader that these assumptions regarding future events, many of which are beyond our control, may ultimately prove to be incorrect since they are subject to risks and uncertainties that affect us. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities legislation. All amounts are in Canadian dollars.
FOR FURTHER INFORMATION PLEASE CONTACT:
Mediagrif Interactive Technologies
Claude Roy, President and CEO
450-449-0102, ext. 2004
1-877-677-9088, ext. 2004
Paul Bourque, Chief financial officer
450-449-0102, ext. 2135
1-877-677-9088, ext. 2135
Martin Tremblay, Vice President, Public affairs