Informission to Spin off Telecom Business Unit, New
Company, Mindready, to Focus on the Fast Growing
Real-Time and Embedded Systems Software Market
MARCH 30, 2000
MONTREAL, QUEBEC--Informission Group Inc., a subsidiary of the
Quebecor Inc. group, announced today that it will spin off its
existing telecommunications division as a new subsidiary focused
on the real-time and embedded systems software market. The new
company, which will be named Mindready Solutions inc., will focus
on the growing needs of large clients in the telecommunications,
avionics, multi-media and industrial imaging markets worldwide.
Mindready will leverage Informission's 15 years of experience in
providing advanced computing solutions and services for real-time
and embedded systems, which run continually in many devices and
require very little human interaction. Mindready will continue to
provide network-centric manufacturers and real-time systems
integrators with services and turnkey solutions such as: advanced
manufacturing engineering services, embedded and real-time systems
software and hardware design, high-speed IEEE-1394 ("Firewire")
communication adapters and protocol stacks.
The company already counts on a core group of more than 120
full-time engineers and will be pursuing an aggressive growth path
to clearly become a leader in its domain. Mindready experienced
two-fold sales growth in 1999 and has sales projections of more
than $15 million for 2000. Mindready's clients include Nortel
Networks, WindRiver Systems, Boeing, Xerox and Texas Instruments.
The new company will be headed by Mr. Daniel Dussault as its
President. Mr. Dussault has more than 20 years experience in
telecommunications and electronic commerce. He has served as
Vice-President of Informission's Telecom Division since 1997.
"I am very excited about the new company and the opportunities it
creates for both employees and clients. Our new company name was
chosen to convey an important message to our employees and our
clients," said Mr. Daniel Dussault, President of Mindready. "Mind
refers to the intellectual capital of our employees and how we
want to contribute to our client's success as innovators and
leaders. We also want to tell our clients that we are Ready to
exceed their expectations when it comes to their technical and
time-to-market challenges. In short, Mindready will provide
talented engineers and software developers a fast-growing
environment and give them the opportunity to meet the challenges
of the most advanced high-tech manufacturers in the world: our
customers."
"Given the recent transaction with Quebecor, and Informission's
focus on the Web integration market, Informission felt that our
Telecom division needed its own wings to really focus on an
aggressive growth plan in this dynamic market," said Jacques Malo,
the new President and CEO of Informission. "Mindready will now be
able to build on its own vision, business plan and branding. We
also feel this spin-off was the best way to realize Mindready's
full business potential and increase our shareholder's value."
To achieve its vision, Mindready will be looking for strategic
partners to participate in its growth and also to accelerate its
development. Informission is committed to the success of this new
company and will actively support Mindready in achieving its
aggressive objectives.
Informission Group Inc.
Informission Group Inc. (TSE: IFN), a subsidiary of the Quebecor
Inc. group, is an information technology company providing
e-commerce and Web integration solutions for corporate and public
sector clients in North America, Europe and select locations
around the world. Informission employs close to 1000
professionals in its various offices in Montreal, Quebec, Toronto,
Ottawa, Seattle, New York, Boston and Paris.
Mindready Solutions Inc.
Mindready Solutions Inc., a wholly-owned subsidiary of
Informission Group Inc. (TSE: IFN), a publicly traded company, is
a leading supplier of real-time and embedded systems software
solutions for telecommunications, aerospace and advanced
microelectronic manufacturers. Mindready's expertise covers
design and development of embedded applications, as well as test
engineering solutions for complex embedded systems. Mindready's
clients include Nortel Networks, WindRiver Systems, Boeing, Xerox
and Texas Instruments. |
