COGNICASE Closes Applied Terravision Acquisition
MONTREAL and CALGARY, CANADA--MARCH 18, 2002 - 11:17 EST
COGNICASE Inc. (TSE: COG, NASDAQ:
COGI), an innovative IT solutions provider specializing in the
development and integration of transactional solutions, announced
today the closing of its acquisition of Applied Terravision
Systems Inc. (CDNX: TER). Applied Terravision specializes in
serving the oil, gas and trust management verticals via the
Business Process Outsourcing (BPO) and Application Service
Provider (ASP) delivery models, allowing its clients to focus
their resources on their core strengths.
The transaction has been approved by the holders of over 99% of
Applied Terravision shares at a special meeting held in Calgary on
March 14, 2002.
According to COGNICASE Chairman of the Board, President and CEO
Ronald Brisebois, "Applied Terravision Systems allows us to add
breadth and depth to our product offering in the energy vertical
market, and increase our focus and presence in the gas and
petroleum industries. It also opens the doors to a new geographic
market with significant potential, the southwestern U.S."
About COGNICASE
COGNICASE Inc. (TSE: "COG", NASDAQ: "COGI") is an IT products and
services provider specializing in advanced transaction processing
and Internet-based applications. Relying on its results-driven
approach, its software and technology and its Application Services
Technology Centre, COGNICASE offers secure and scalable solutions
that contribute to its customers' economic success in the age of
the new economy. The Company is active in Canada, the United
States and Europe.
About Applied Terravision
Applied Terravision Systems Inc. provides proprietary enterprise
e-Solutions, focusing on the Application Service Provider (ASP)
and Business Function Outsourcing (BFO) delivery models. ATS'
e-Solutions give customers the ability to manage financial,
operational, ownership and asset management functions in the
petroleum and trust management sectors. The ATS customer base
includes over 600 companies worldwide. ATS e-solutions are used by
an array of industries, including oil and gas corporations, trust
management companies, financial institutions, universities and
government agencies. |
