NURUN Completes Acquisition of Quam SRL of Italy
MONTREAL, QUEBEC-- JULY 12, 2000
Quebecor reconfirms support for NURUN's strategy with $11 million
investment
NURUN Inc., a subsidiary of the Quebecor Inc. group, confirmed
today that the company has completed its acquisition of the
Italian new media agency Quam SRL and its two subsidiaries, Quam
Production and Quam Idea.
Concurrent to this transaction, Quebecor Communications Inc. and
NURUN Inc. have also reached an agreement that will see Quebecor
Communications exercise its pre-emptive right to acquire shares in
NURUN and maintain its 57.5 % interest in the company. This
transaction, valued at $11 million, will provide NURUN with
significant working capital for future acquisitions in Europe.
"When we decided to team up with Quam, we had two major
objectives: establish a local presence in Italy and develop
opportunities for Quam through NURUN's existing international
clients," said Jacques Malo, President and CEO of NURUN Inc. "We
are happy to say that this innovative and award-winning company is
already taking advantage of our many synergistic relationships and
we expect to see some concrete results from them in the near
future. And with the additional investment from Quebecor, we will
be in a position to support NURUN's aggressive growth plans."
Quam SRL
Quam is one of the leading Italian full-service Web agencies.
Specialized in Web marketing and communications projects, the
company offers technological solutions to a national and
international clientele in various industries. Located in Milan,
the company employs more than 50 employees.
NURUN Inc.
NURUN Inc. (TSE: IFN), a subsidiary of the Quebecor Inc. group, is
an information technology company providing e-commerce, Web
integration and automated publishing solutions for corporate and
public sector clients in North America, Europe and select
locations around the world. NURUN employs more than 1,100
professionals in its various offices in Montreal, Quebec City,
Toronto, Ottawa, Seattle, New York, Boston, Chicago, Paris, Milan
and Santiago. |
