The street likes this move. Up 20% today. Kinda wish I had averaged down from my entry point of $14...
Geac RETAINS FINANCIAL ADVISOR
TORONTO, Ontario - September 5, 2000 - Geac Computer Corporation Limited
(TSE: GAC) announced today that, as part of its continuing process of
reviewing strategic alternatives, it has retained CIBC World Markets as
financial advisor. Geac may give consideration to potential transactions
involving part or all of its businesses, with the overriding aim of
maximizing shareholder value. Two parties have approached Geac on an
unsolicited basis, conveying their interest in exploring possible
transactions.
As a result of over sixty acquisitions, Geac has established itself as one
of the most significant enterprise software companies in the world.
Installed enterprise applications provide the backbone for all e-commerce
applications, ASP initiatives, and corporate-wide information technology
projects. Geac derives more than 45% of all revenue from the United States
and more than 35% from Europe.
Geac has also established its Interealty.com subsidiary as a leading
provider of full-service business-to-business solutions for real estate
brokerage professionals. In addition, Geac has become a leading software
solutions provider in many specialized areas such as the property
management, publishing and construction industries.
Geac is a provider of mission critical software and systems solutions to
corporations around the world. Geac solutions include cross-industry
enterprise business applications for financial administration and human
resources functions, and enterprise resource planning applications for
manufacturing, distribution, and supply chain management. As well, Geac
provides industry applications to the hospitality, property and publishing
marketplaces, as well as a wide range of applications for libraries and
public administration. Headquartered in Toronto, Canada, Geac ranks as one
of the world's largest software companies. Further information is available
on the World Wide Web at geac.com, or through e-mail at
info@geac.com.
This press release contains forward-looking statements based on current
expectations. These forward-looking statements entail various risks and
uncertainties that could cause actual results to differ materially from
those reflected in these forward-looking statements. Risks and uncertainties
about the Company's business are more fully discussed in Management
Discussion and Analysis published in the Company's annual report.
For more information, please contact:
Doug Bergeron, President and Chief Executive Officer
Geac Computer Corporation Limited
Tel: (416) 642-1960
Fax: (416) 642-8454 |
