NETgraphe acquires interest in NeoSim
NETgraphe Inc WWW
Shares issued 83,401,241 Dec 22 close $4.85
Thu 23 Dec 99 News Release
Mr. Yves Doucet reports
Netgraphe has acquired a majority interest of 75 per cent in NeoSim Inc.,
creator and owner of revenues which come, for a large part, from
e-commerce. The amount of this transaction reaches $4.5-million, or
$3-million in working capital for NeoSim and $1.5-million paid directly to
the company's shareholders-founders (half in cash and the other half in
Netgraphe shares at $4.25 per share).
"This transaction fits in perfectly with the business vision we are
pursuing, explains chief executive officer, Normand Drolet. NeoSim is a
company that gets, through a unique business pattern, the majority of its
revenues from its Internet activities. Its leaders were able to use the
power of Internet to develop an original solution making recruiting and job
hunting easier. Already, the recru-direct.com site enjoys an excellent
reputation for the quality and efficiency of its service."
A recruiting tool specialized in the information technologies and
multimedia sectors, recru-direct.com has rapidly distinguished itself by
its rigorous approach favouring the establishment of very efficient links
between professionals and companies. Recru-Direct's success is also
attributed to the quality of the business partnerships established by
NeoSim, particularly with La Presse, career ads market leader in Quebec
with its careers and professions section.
In its first two years, the site has served over 200 companies looking for
resources to complete their staff, while over 25,000 professionals
registered into its data bank. The number of on-site transactions is
constantly on the rise and the company anticipates revenues for the current
year to exceed the $1-million mark.
"For our part, the arrival of Netgraphe as principal shareholder brings the
necessary strength to pursue the development of our services, adds NeoSim
president, Andre Forest. The idea of joining a solid business network that
includes among others La Toile du Quebec, InfiniT, TVA and Videotron
creates a lot of enthusiasm. So, we intend on profiting from this support
to accelerate the implementation of our plan of action and apply our
recruiting pattern to other employment sectors. In fact, recu-direct.com
will soon cover all employment sectors, and two of these -- engineering and
information and multimedia technologies -- will be covered in the same
in-depth manner that has helped us differentiate ourselves up to now."
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