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Gold/Mining/Energy : GEAC.....Canadian best kept secret
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To: Ally who wrote (1522)2/2/2001 10:49:05 AM
From: Thomas DeGagne  Read Replies (1) of 1571
 
Here's my take on the management change at GEAC.

Traditionally, GEAC has focused on growth through acquisitions. This had been a successful strategy for years; however, acquisitions take time and effort to merge into a single, productive operation. I believe that GEAC avoided many of these issues by sacking most of the senior management and administrative workers at their acquisition targets and keeping product lines (and development) separate.

With the JBA acquisition, cultural and operational differences finally caught up with GEAC. The old management (CEO & CFO) were not focused on dealing with operational issues: they were distracted by the quest for more acquisitions. The new management is focused on fixing the operational and cultural issues that had been ignored.

At this point, a new release of the JBA product which is integrated with SmartStream has been released. This will stimulate license revenues which provide the highest GM%. The bank debt is being dealt with. Y2K is behind us and will make for easier comparisons going forward. Assuming that the new management will be able to make some improvement in operational efficiency, we should soon see a significant improvement in GEAC's profitability.

Share price appreciation will follow immediately thereafter.

This discussion might be of interest to other ERP investors. Please join me at my new thread:

Enterprise Resource Planning & Supply Chain Management
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